Slovenia's retail trade turnover rose 8,2% y/y in 2017 as well as by 1.7% y/y in December alone, the Slovenian Statistical Office announced on January 31. However, retail trade turnover in the last month of the year decreased 2.3% compared to the previous month.
Retail trade in the country is likely to maintain the upward trend first reached in 2015 mainly thanks to improved employment and higher salaries. Wages are set for a further boost this year as Prime Minister Miro Cerar's government has announced plans for a hike in the minimum wage, as he seeks reelection in June.
The latest statistical office data indicated that in 2017 the highest increase was recorded in specialised stores with motor fuels (by 16.7% y/y), while volume turnover also increased in retail trade except automotive fuel (by 4.1%). The volume of sales in retail trade with food increased by 2.3% y/y in 2017 and the sales of non-food increased by 5.7% y/y.
Meanwhile, in December against November, the decrease was mainly influenced by lower volume turnover in specialised stores with motor fuels (by 5.6%). Additionally, turnover in retail trade except automotive fuel decreased too (by 0.4%). The volume of sales in retail trade with non-food decreased by 1.5% over the previous month, while in retail trade with food slightly it increased (by 0.4%).
In December compared to December 2016 volume turnover, the highest increase was recorded in retail trade except automotive fuel; the volume of sales in retail trade with non-food increased by 5.2% and in retail trade with food by 5.3%. At the annual level, the biggest drop in volume turnover this year was recorded in specialised stores with motor fuels; the volume of sales of motor fuels decreased by 6.2% compared to December 2016, the statistical office reported.
Retail trade turnover in Slovenia maintained a positive trend in 2015 and 2016 after it recorded declines in 2014 (0.1% y/y) and 2013 (3.4% y/y). It increased 3.8% in 2016 against 2015, when it went up by a more modest 0.7% compared to 2014.