Polish consumers boost retail trade
A recently published report by Eurostat indicates that’s a growing trend in retail trade in Poland. The latest annual summary shows that the highest increases of total retail trade were observed in three European countries – Malta (25%), Slovenia (9%) and Poland (7,6%).
The annual report prepared for European Commission illustrates the situation of retail trade in both European Union countries and Euro currency zone. It focuses on the differences between first half of the years 2021 and 2022, starting from February and ending in July. Comparing monthly results, it analyses not only the overall situation of retail trade but as well the state of chosen industries such as: Food, drinks, tobacco, Non-food products (excluding automotive fuel), including Mail orders and internet and Automotive fuel in specialised stores.
According to data from the year 2021, the overall state of retail trade in Poland looks optimistic. Whilst the month-by-month comparison of volume of this year’s results shows a decrease in the second quarter (seeing a drop from 4,4% in March to -4,6% in April), the latest data from July (showcasing growth by 1,5%) confirms the positive trend. The year-by-year comparison proves that consumer spending in Poland is on the rise. At the end of the first quarter and the beginning of the second it grew by almost 20% . In July, the total volume of Polish retail trade was estimated to grow by 7,6%.
This is one of the best results in Europe, and it proves the resilience of Polish economy. The upcoming months will show whether this trend will continue.
The full report is available on Eurostat.
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