ELSTAT: 3.4% Rise in Retail Trade Turnover in Q1 – 2.9% Drop in March

According to the latest data from Greece’s statistical authority (ELSTAT), retail businesses saw a 3.4% increase in turnover during the first quarter of 2024, despite strong inflationary pressures and a discount period. However, March saw a significant dip, with turnover declining by 2.9% across the entire retail sector.

The total turnover for the retail sector in the first quarter of 2024 reached 15.69 billion euros, reflecting a 3.4% increase compared to the first quarter of 2023.

Excluding the sectors of vehicles, food, and fuel, retail businesses reported a turnover of 5.35 billion euros in the first quarter of 2024, a 1.6% rise from 5.27 billion euros in the same period of 2023. However, this figure represents a 25.5% decrease from the fourth quarter of 2023.

Quarterly data reveals that the sectors with the highest increase in turnover in the first quarter of 2024 compared to the same period in 2023 were the sales of other motor vehicles, with a 29.3% rise, and retail trade of used goods in stores, with a 26.3% rise.

On the other hand, the sectors with the largest decrease in turnover were retail trade of household electrical appliances in specialized stores, down by 16.9%, and retail trade of audiovisual equipment in specialized stores, down by 13.8%.

Regionally, Thessaly experienced the highest increase in turnover in the first quarter of 2024 compared to the same period in 2023, with a 5.3% rise. Conversely, Epirus saw a 0.9% decline in turnover for the same period.