Retail sales in Latvia increased 1.7 percent year-on-year in November 2019, accelerating from a revised 0.1 percent gain in the previous month. Sales rose faster for both food (2.0 percent vs 0.6 percent in October) and non-food products (2.9 percent vs 1.3 percent) while fuel sales fell at a softer pace (-0.6 percent vs -3.1 percent). On a seasonally adjusted monthly basis, retail trade surged 2.6 percent, after a 0.3 percent increase in October. Retail Sales YoY in Latvia averaged 5.63 percent from 1999 until 2019, reaching an all time high of 60.60 percent in January of 1999 and a record low of -28.50 percent in December of 2009.

Retail Sales YoY in Latvia is expected to be 2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Latvia to stand at 3.30 in 12 months time. In the long-term, the Latvia Retail Sales YoY is projected to trend around 4.20 percent in 2020, according to our econometric models.

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Latvia Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
1.70 0.10 60.60 -28.50 1999 - 2019 percent Monthly
Constant Prices, WDA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 10:00 AM Aug 3.1% 1.7% 2.6%
2019-10-30 11:00 AM Sep -0.4% 2.6% 2%
2019-11-29 11:00 AM Oct -0.4% -0.8% 1.3%
2019-12-30 11:00 AM Nov 1.7% 0.1%
2020-01-29 11:00 AM Dec 1.7% 2.6%


News Stream
2019-11-29
Latvia Retail Sales Drop for 2nd Month
Retail sales in Latvia decreased 0.4 percent year-on-year in October 2019, following an upwardly revised 0.8 percent fall in the previous month. It was the second straight monthly decline in retail trade, as automotive fuel declined further (-3.2 percent vs -0.3 percent in September). Also, sales of food, beverages & tobacco showed no growth, after rising 0.8 percent in the prior month. On the other hand, non-food sales rebounded (0.3 percent vs -2.1 percent). On a seasonally adjusted monthly basis, retail trade went down 0.2 percent, after an upwardly revised 1.3 percent slump in September.

2019-10-30
Latvia Retail Sales Fall for 1st Time in Near 4 Years
Retail sales in Latvia decreased 0.4 percent year-on-year in September 2019, after a downwardly revised 2.6 percent rise in the previous month. It was the first fall in retail trade since November 2015, as non-food sales declined (-1.4 percent vs 4.5 percent in August) and automotive fuel (-0.2 percent vs 1.9 percent). On the other hand, food, beverages & tobacco sales advanced faster (0.8 percent vs 0.6 percent). On a seasonally adjusted monthly basis, retail trade slumped 1 percent, after showing no growth in August.

2019-09-30
Latvia Retail Sales Rise the Most in 4 Months
Latvia's retail trade rose 3.1 percent year-on-year in August of 2019, up from an upwardly revised 1.7 percent increase in the previous month. It was the biggest gain in retail sales since April, as sales driven by non-food products (4.5 percent vs 1.9 percent in July) and automotive fuel (2 percent vs -1.7 percent). Meanwhile, sales of food, beverages and tobacco went up at a slower pace (0.7 percent vs 1.4 percent). On a seasonally adjusted monthly basis, retail trade went up 0.2 percent, after a downwardly revised 0.4 percent drop in the previous month.

2019-08-30
Latvia Retail Trade Eases in July
Latvia´s retail trade increased 1.4 percent year-on-year in July of 2019, easing from a 2.1 percent jump in the prior month. Sales of automotive fuel dropped (-1.7 percent vs 1.0 percent in June) while those of non-food products rose at a softer pace (1.3 percent vs 2.9 percent). Meanwhile, food, beverages or tobacco sales advanced faster (1.4 percent vs 0.8 percent). On a seasonally adjusted monthly basis, retail trade dropped 0.5 percent, after decreasing 0.2 percent in the previous month.

2019-07-30
Latvia Retail Sales Rise at Faster Pace
Latvia's retail trade growth picked up to 2.1 percent year-on-year in June 2019 from 1.2 percent in the previous month, boosted by sales of food, beverages or tobacco (0.8 percent vs -0.5 percent) and automotive fuel (1 percent vs -2.9 percent). Meanwhile, non-food trade increased at a slower rate (3.6 percent vs 4.4 percent).

2019-06-28
Latvia Retail Trade Growth at 4-Month Low
Retail sales in Latvia increased 1.2 percent year-on-year in May 2019, following a downwardly revised 6.3 percent gain in the prior month. It was the slowest rise in retail trade since January, as sales fell for food products (-0.5 percent vs 6.6 percent in April) and automotive fuel (-2.8 percent vs 4.8 percent) while those went up at a softer pace for non-food products (2.1 percent vs 6.2 percent). On a seasonally adjusted monthly basis, retail trade dropped 1.1 percent, after a 0.8 percent increase in April.


Latvia Retail Sales YoY
In Latvia, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Latvia Consumer Last Previous Highest Lowest Unit
Consumer Confidence -7.30 -7.30 0.20 -54.30 points [+]
Retail Sales MoM 2.60 0.30 10.20 -9.20 percent [+]
Retail Sales YoY 1.70 0.10 60.60 -28.50 percent [+]
Consumer Spending 4406125.00 4153170.00 4406125.00 1286274.00 EUR Thousand [+]
Personal Savings 6.34 4.42 13.28 -20.51 percent [+]
Bank Lending Rate 3.92 3.73 9.99 3.16 percent [+]
Economic Optimism Index 103.50 102.90 115.30 69.30 [+]
Households Debt To Income 33.47 35.94 74.05 8.55 percent [+]
Gasoline Prices 1.43 1.37 1.86 0.41 USD/Liter [+]