International Internet Magazine. Baltic States news & analytics
Friday, 29.08.2014, 15:00
Total earnings in Estonian domestic trade sector grew by 50% in 2011
The retail sales volume last year totalled 4.1 billion euros, 3.9 billion of which were sales in retail sales enterprises and the rest were involved with vehicle trade.
Sales volumes grew 5.5% in constant prices during the year and the growth occurred in each quarter. The growth was the fastest in the segment of manufactured goods as retail sales of household goods, home electronics, construction materials and hardware goods grew nearly 15% in the year-on-year comparison.
Productivity indicators continued improving in the retail trade sector in 2011. Increase in sales revenue reached 11% and total profits grew nearly 50%.
Retail trade in Estonia is increasingly concentrated in the hands of major retail chains. Majority of retail sales of groceries last year were generated by five chains: Selver, Maxima, ETK Group, Rimi and Prisma. The sales revenue of the biggest chain, Rimi, amounted to 352 million euros in 2011. The sales revenue generated by the smallest chain, Prisma, amounted to 147 million euros.
While retail chains’ turnover grew last year, their profits mostly did not. The two chains that managed to end the year 2011 with a profit were Selver and OG Elektra.