The retail sales increased by 11.1% in volume terms as of August, compared to the same month last year, according to the statistics office INS.

Food sales rose by 8.2%, non-food sales by 15.1% and even fuel sales rose by 8.9% on low base effects.

However, a more accurate picture is provided by a different metric: average annualised growth over the past 24 months. Thus, the retail sales increased by 6.3% per year over the past 24 months as of August.

From a broader perspective, the retail sales in Romania returned to an annualised growth rate of around 6% per year immediately after the lockdown (in June 2020).

The non-food sales have increased at a higher rate (+11.4% p.a. over the past 24 months as of August), while the fuels sales lagged behind (+0.9% p.a. as of August). The food sales have advanced slightly below average (+4.3% p.a. as of August).

(Photo: Tyler Olson/ Dreamstime)

iulian@romania-insider.com