POST Online Media Lite Edition



 

Slovakia turnover in retail trade decreased

Christian Fernsby |
The corona crisis existentially hit the providers of accommodation, their turnover was lower almost by 90% in January 2021, food and beverage service activities were struggling with a half-decline of turnover.

Article continues below



Topics: SLOVAKIA   

In January 2021, turnover in retail trade decreased year-on-year by 16,8%, it was the largest decrease since 2009 (since the last change in methodology). They dropped in all nine monitored retail trade activities, in four of them the decrease reached historical lows.

A drop of turnover deepened in the sale and repair of motor vehicles, turnover decreased by almost 20%, year-on-year, which was the largest drop since May 2020.

After the December increase, wholesale turnover also dropped by 6,3%. Turnover of food and beverage service activities did not even reach half of the turnover from January 2020. Only the providers of accommodation were worse off, turnover in accommodation fell to the historically lowest value, the January decline approached 90%.

Development in January 2021 compared to December 2020

In January 2021 compared to December 2020, turnover was lower in all the main internal trade activities. Compared to the previous month, the largest turnover drop was felt by providers of accommodation services by 60,8% and the operators of food and beverage service activities by 3,6%.

Turnover in retail trade also decreased significantly by 9,5% and there was also a decrease in sale and repair of motor vehicles by 1,7% and in wholesale by 1,6%.

Development in January 2021 compared to January 2020

Repercussions of the second wave of the corona crisis in the Slovak Republic in January 2021 significantly affected trade, retail turnover recorded a larger decline than during the first wave of Covid-19 in spring 2020. This was the largest year-on-year decline since 2009, when retail turnover fell by 16,8%, year-on-year. It decreased in all nine monitored retail activities, in four of them the decline reached historical lows.

The situation was affected by a decrease in the most important activities, for the first time since the beginning of the corona crisis, retail trade in non-specialized stores (hyper and supermarkets) fell more sharply by 12,4%. Last year, this retail component resisted the situation relatively well and, unlike other retail structures, showed year-on-year turnover growth.

However, there was a change in January 2021, with hyper and supermakets recording the largest turnover drop since 2009 (since the last change in methodology).

There was also a significant decrease in specialized stores with other goods by 16,6%, as well as in specialized stores with other household goods by 34,4%, where turnover decreased the most since February 2009 (when there was a drop by 41,3%).

Operators in specialized stores with food, beverages and tobacco (by 20,3%) and in stalls and markets (by 51,5%) also recorded historical turnover drops, but in these cases they were the less significant retail activities.

Due to the increased interest in information related to the corona crisis, the Statistical Office of the Slovak Republic also provides extended information on selected more detailed retail trade activities.

Within them, turnover decreased significantly year-on-year in stores with footwear and leather goods by 75% and in stores with clothing by 61%. In both activities, the pace of decline deepened significantly compared with December.

Turnover drop was recorded also in retail stores of meat and meat products by 27% and stores with tobacco products by 10%.

The turnover drop in sale and repair of motor vehicles continued; at the beginning of 2021, turnover fell by almost 20% year-on-year, it was the highest since May 2020. The largest turnover drop was in sale of motor vehicles by 22,9%.

After a favorable development in 2020, turnover in repair and maintenance of motor vehicles also started to lag behind in January, after eight months of growth they decreased by 18,4% year-on-year. There was also a decrease in sale of spare parts and accessories by 1%.

Wholesale turnover also decreased, in January 2021, it fell by 6,3% compared to the corresponding period last year.

Turnover from accommodation fell to the historically lowest value. The January decline by almost 90% (87,9%) was also surpassed by the turnover drop from the first wave of the pandemic in April 2020 (drop by 84,7%). A similarly unfavorable development was also in the activities of food and beverage services, January turnover decreased by more than half (by 55%) year-

on-year.


What to read next

Turnover in internal trade in Slovakia increased
Turnover in internal trade in September 2019 in Slovakia
Turnover increased in internal trade in November 2019 in Slovakia