Romania’s retail sales up 4.5% y/y in April despite lower car fuel sales

By bne IntelliNews June 4, 2014

Retail sales in Romania increased by 4.5% y/y in April – with the annual expansion rate decelerating visibly from the 9.3% growth saw in Q1, according to statistics office data. Nonetheless, the growth rate remains robust with its slowdown partially attributed to households buying in advance car fuels in late March before the April 1 excise tax hike.

Adjusted for the pattern in the car fuel sales, the retail sales kept rising significantly, continuing the trend seen over the past year – after they more or less stagnated around the lower 10% level of the pre-crisis peak reached in 2008. Overall retail sales are still below the pre-crisis peak, but if the upward trend remains in place, they might fully fill in the gap by the end of the year.

Food sales actually performed better than in Q1 on average – recording a 10.6% y/y increase in April vs the 6% y/y hike in Q1, while indeed the non-food sales growth eased down to only 5.9% y/y in April from the outstanding growth rates seen in the previous two quarters [13.1% y/y in Q1 and 6.8% y/y in Q4].

DATA CONFIRM CAR FUEL PURCHASE IN ADVANCE. Indeed, car fuel sales contracted in April, versus March, by 6.6% in absolute terms and by 16.2% in seasonally-adjusted terms. Car fuel sales were visibly stronger-than-usual in March [32.8% up m/m, unadjusted data] reflecting the fuel purchased in advance for the month of April.

Retail sales index 2009 2010 2011 2012 2013 Q1-14 Apr-14
Total -9.7% -6.6% -2.0% 2.9% 0.5% 9.3% 4.5%
Total, swda* q/q, m/m n.a. n.a. n.a. n.a. n.a. 4.9% -3.2%
A. Food stores -3.8% -9.6% -6.8% 2.4% -0.1% 6.0% 10.6%
B. Non-food stores -8.1% -9.0% 1.7% 1.6% 3.6% 13.1% 5.9%
C. Car fuel -19.7% 3.3% -1.6% 6.2% -3.6% 7.2% -6.1%
Source: INS, *seasonally and workday adjusted

Related Articles

Romanian authorities approve takeover of 51% in KMGI by China's CEFC

The Romanian authorities have approved the transaction through which China Energy Company (CEFC) is taking over 51% of KazMunayGas International (KMGI), the majority shareholder in Romania’s ... more

Romanian telco RCS&RDS indicted in bribery and money laundering case

Romania’s National Anticorruption Directorate (DNA) has indicted Romanian telecom operator RCS&RDS for bribery and money laundering and seized two of its assets worth around €3mn, RCS&RDS ... more

Hungarian branch of Bucharest listed Digi to buy Invitel Tavkozlesi in €140mn deal

Bucharest listed Digi Communications announced on July 21 that its Hungarian subsidiary, Digi Tavkozlesi es Szolgaltato, has signed an agreement to acquire Hungarian broadband and telephone provider ... more

Dismiss