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 president rejects justice minister’s request to dismiss head of anti-corruption body

Romanian President Klaus Iohannis said on April 16 he is rejecting a request from the justice minister to dismiss the head of the National Anticorruption Directorate (DNA), Laura Codruta Kovesi. ... more

ArcelorMittal proposes to divest assets in Czech Republic, Macedonia and Romania

International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more

Romania’s Restart Energy raised €30mn via ICO

Romanian electricity and gas supplier Restart Energy raised €30mn in cryptocurrencies by issuing 400mn MWAT tokens in an Initial Cryptocurrency Issue (OCO) aimed at financing a blockchain-based ... more

Dismiss