Romania is estimated to report a 4.3 percent increase of retail sales this year, one of the highest in Europe, according to a report from market research company GfK.
“The growth of online trade will put pressure on traditional retail formats across Europe. As a result, GfK forecasts a moderate growth for the latter of about 0.6 percent. Romania (+4.3 percent) and the Baltic countries (+4.8 percent – 5.9 percent) will post the highest growth rates,” according to the report.
Romania is also listed among the countries which reported the highest retail sales growth in 2013 (+4.9 percent) as well as the countries with the highest purchasing power increase alongside Germany, the Scandinavian and Baltic countries.
Among the countries where retail sales dropped last year there are Greece (-8 percent), Cyprus (-5 percent), Holland (almost -4 percent), Spain (-3.5 percent) and Italy (more than -3%). Other countries besides Romania which reported growth include the Baltic countries (+5.3 percent) and Poland (+5.1 percent).
Total retail sales (in the 32 European countries included in the report) amounted to EUR 3.1 trillion in 2013, (-0.1 percent y-o-y). This evolution was triggered by the slowdown of the economic growth in Europe, but GfK estimates it will pick up this year.