Retail trade turnover in Ukraine up 7.3% in 1H23 and 23.3% in June y/y
Retail trade turnover in Ukraine is bouncing back thanks to the stabilisation of the economy and low base effects, Ukrstat reported on September 26. (chart)
Retail has shown impressive growth over the first half of 2023, up by 7.3% January-June y/y.
In June of this year alone, there was a remarkable surge in retail turnover, recording a 23.3% increase compared to the previous June. Although slightly less than the figure for May, which saw a 24.3% increase, this continued growth reflects a healthy consumer market.
When analysing turnover from retail trade enterprises, which includes legal entities, a solid 4.9% increase was observed in the first half of the year compared to the first half of 2022. This growth persisted into June 2023, registering at 19.1%, though slightly lower than May's figure of 20.7%.
In nominal terms, the retail trade turnover for January-June 2023 amounted to UAH820.9bn ($22.2bn), with retail trade enterprises contributing UAH553.6bn to this figure. It's important to note that these statistics do not account for territories temporarily occupied by Russia or regions affected by ongoing hostilities.
This growth in retail turnover stands in stark contrast to the previous year when Ukraine experienced a 21.4% decline in retail trade, emphasizing the significant strides made in revitalizing the country's retail sector.
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