Romania’s retail trade turnover, which is considered the most important indicator of household consumption, increased by 9.2% in March compared to the same month last year.

In total, the retail trade turnover went up by 6.9% year-on-year in the first three months of the year, according to data published by the National Statistics Institute (INS) yesterday. The figures don’t include the sales of motor vehicles and motorcycles.

The retail trade was mainly supported in March by the sales of fuel, which went up by 13.1% over March 2016. Fuel has gotten cheaper since the beginning of this year the extra excise on fuel of 7 euro cents per liter was removed and the VAT rate went down from 20% to 19%.

The retail trade turnover saw a modest advance of 4.8% in February, after a growth of 6.4% in January. The growth pace was moderate compared to the one recorded last year.

The turnover in the retail trade went up by 13.5% in 2016 compared to the previous year. It was the highest growth rate after 2007. In 2015, the retail trade turnover rose by 8.9% compared to the previous year, after an advance of 7% in 2014.

In the last two years, retail sales have been stimulated by Government measures, including tax cuts and wage increases in the public sector.

editor@romania-insider.com