Retail sales in Turkey surged 8.5 percent year-on-year in November 2019, following an upwardly revised 6.3 percent gain in the previous month. It was the third straight month of increase in retail trade and at the quickest pace since January 2018, boosted by sales of non-food products (13 percent vs 9.7 percent in October); automotive fuel (8 percent vs 6.1 percent) and food, drinks & tobacco (0.9 percent vs 0.4 percent). Within non-food, the biggest gains were recorded for computer, books, telecommunication equipment (20.7 percent vs 15.2 percent); textiles, clothing & footwear (17.5 percent vs 11.8 percent) and pharmaceuticals, medical & cosmetic products (11.5 percent vs 7.4 percent). Also, online trade rose sharply (48.6 percent vs 45.3 percent). On a monthly basis, retail sales went up 1.7 percent, compared to a revised 0.2 percent gain in October. Retail Sales YoY in Turkey averaged 5.71 percent from 2006 until 2019, reaching an all time high of 24.70 percent in December of 2010 and a record low of -8.80 percent in December of 2018. source: Turkish Statistical Institute
Retail Sales YoY in Turkey is expected to be 2.50 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 Turkey to stand at 2.70 in 12 months time. In the long-term, the Turkey Retail Sales YoY is projected to trend around 3.20 percent in 2020, according to our econometric models.