Croatia’s retail trade lifted by strong tourism season

Croatia’s retail trade lifted by strong tourism season
By bne IntelliNews August 30, 2021

Retail trade turnover increased in Croatia by 12.8% annually and by 2.2% in monthly terms in July, the Croatian Bureau of Statistics (DZS) reported on August 30. A month earlier, retail sales increased by 10.9% year on year.

The sector is recovering after a deep contraction during the lockdown months of April and May 2020. As well as the lifting of restriction on the Croatian population, June also saw a rising number of tourists, albeit in smaller numbers than before the pandemic began, further pushing up retail trade. While tourism statistics for July and August are not yet out, officials say the summer season has been strong. 

Working-day adjusted retail trade turnover increased in nominal terms by 16.9% y/y, after expanding by 13.6% y/y the month before.

Compared to July 2020, growth in turnover was recorded in ten trade branches, which generated 99.3% of the total turnover, while only one trade branch, which generated 0.7% of the total turnover, recorded a decrease in turnover. The largest increase in nominal turnover was posted by other non-store retail sales (up 59.7%) and automotive fuels and lubricants (up 33.2%).

The 2.2% month-on-month rise in July in real terms included a 0.3% increase for non-food products (except automotive fuels and lubricants). Sales of food products increased by 2.7% m/m.