Annual retail sales growth slows in March

ANKARA

Retail sales increased by 19.4 percent year-on-year in March, slowing from the annual rise of 25.2 percent in the previous month.

On a monthly basis, retail sales were unchanged, comparing unfavorably with the 3.6 percent month-on-month increase recorded in February, data from the Turkish Statistical Institute (TÜİK) showed on May 13.

Food sales grew 12.4 percent compared with March 2022, while non-food sales rose by 27.8 percent annually.

Computer, books and telecommunication equipment sales surged 44.2 percent in March from a year ago. Mail orders and online orders leaped 41.3 percent year-on-year.

The headline trade sales volume index, which rose by 11.8 percent annually in February, was up 10.5 percent in March. The index of wholesale volume increased by 9.4 percent year-on-year and 5.5 percent month-on-month.

Separate data from TÜİK on May 13 showed that the combined turnover of the industry, construction, trade and services sectors rose by 84 percent annually in March, slowing from the 85.7 percent year-on-year increase in February.

In industry, companies’ turnover grew by 70.8 percent from March 2022, while the annual increase in the construction sector was 130 percent.

In trade and services turnover rose by 85 percent and 95.3 percent, respectively.

The combined turnover of the four sectors showed a 4.7 percent rise in March from February, TÜİK said.