Retail sales rise nearly 29 percent in June

ANKARA

Retail sales volume at constant prices increased by 28.5 percent in June from a year ago, the Turkish Statistical Institute (TÜİK) has said.

The pace of annual growth in retail sales, however, eased from May’s 30.2 percent.

Food, drinks and tobacco products sales rose 27 percent from June 2022, while non-food retail grew 32 percent year-on-year. The increase in automobile fuel sales was 19.4 percent.

Electronic goods recorded a 33 percent annual rise in sales, while textile and clothing sales were up 20 percent.

Orders by mail and online sales leaped more than 43 percent in June, while retail sales declined 0.1 percent in June from May.

According to the numbers released on Aug. 11, at constant prices, the turnover in the retail sector increased by 73 percent in the month from a year ago, down from the annual rise of 83 percent in May.

Separate data TÜİK unveiled on Aug. 11 showed that the combined turnover in the industry, construction, trade and services sectors increased by 53.4 percent year-on-year in June.

In the industry, turnover was up 42.5 percent, while the increase in the construction sector was 74 percent. In the trade and services sectors, turnover grew 58.3 percent and 55.8 percent, respectively.

Consumption was one of the key drivers of the economic growth in the first quarter, when GDP expanded 4 percent.

Households’ final consumption increased by 16.2 percent from January-March 2022, accounting for 60.2 percent of the country’s GDP in the first quarter.