ZAGREB, 8 May (Hina) - Retail trade across the European Union showed only a marginal decline in March, but Croatia stood out with one of the strongest monthly increases, alongside Malta and Belgium, according to data released by Eurostat, the EU’s statistical office.
Seasonally adjusted retail sales in the euro area slipped by 0.1% in March compared to the previous month, when they had risen by 0.2% according to revised figures. Retail trade in the wider EU also recorded a slight decline, following stagnation in February.
The dip in the euro area was largely driven by reduced sales of food, drinks and tobacco, as well as a broad category of non-food products. At the EU level, food and tobacco sales were down by 0.4% compared to February.
Sales at petrol stations in both the euro area and the EU, however, grew at the same rate, according to Eurostat.
Strong rebound in Malta
Among the countries for which data were available, Slovenia recorded the steepest monthly drop in March, down 2%, followed by Estonia (-1.3%) and Slovakia (-0.9%).
In contrast, Malta posted the strongest growth in retail sales at 2%, followed by Croatia and Belgium, both with a 1.4% increase compared to February. For Croatia, this represents a marked rebound after a 0.9% decline in February.
Eurostat also highlighted Bulgaria among the top performers, with a 1.1% rise in retail sales. Data were not available for the Czech Republic, Greece or Romania.
Retail growth slows year-on-year
On an annual basis, calendar-adjusted retail sales in the euro area rose by 1.5% in March, and by 1.4% across the EU, Eurostat found. In February, growth had been stronger - 1.9% in the euro area and 1.8% in the EU, according to revised figures.
The biggest contributors to year-on-year growth in March were shops selling a broad range of non-food items, which recorded increases of around 2.5% in both the euro area and the EU.
Fuel sales also grew - by 0.9% in the euro area and 1.7% in the EU. Food, drink and tobacco sales rose by 0.6% in the euro area and just 0.1% in the EU.
Croatia outperforms EU average
Luxembourg recorded the strongest annual growth in retail trade, up 9.4%, followed by Bulgaria (+5.4%) and Cyprus (+5%).
Croatia saw a 3.6% year-on-year increase in retail sales in March, following a 2.6% rise in February - well above the EU average.
Slovakia registered the largest annual drop in sales, down 2.9%, followed by Poland (-1.8%) and Italy (-1.4%).
