Romania’s retail trade turnover grew by 12.1% in October compared to the same month last year, recording the biggest increase in the European Union, according to EU’s statistical office Eurostat.

In the EU, the retail trade volume rose by 3.1% in October, whereas in the Eurozone it went up by 2.5%.

Lithuania ranked second after Romania, with a 6.6% increase, followed by Estonia, with a 6.5% growth. Countries such as Luxembourg, Bulgaria or Belgium recorded decreases in the retail trade turnover in October compared to the same month in 2014.

Romania’s Institute of Statistics showed that the retail trade turnover, except for the motor vehicles and motorcycles trade, rose by 7.4% in Romania in the first ten months of the year, compared to the same period last year. The growth was due to a 17.1% increase in the sale of food, beverages and tobacco, which was also determined by the lower VAT rate on food starting June 1.

editor@romania-insider.com