Retail trade turnover in Ukraine grew by 8.5%

19 Nov 2014

The dynamics of retail growth remains vibrant, according to the Ukraine's State Statistics Service of Ukraine, which reports that in January of this year retail trade turnover grew by 8.5%, confirming this year's upward trend with an increase in the purchasing power of the population, – says

According to State Statistics Service, retail trade turnover of retail trade and restaurant business in Ukraine in January 2014 increased by 8.8% compared with January 2013. In nominal terms, retail turnover in the last month amounted to 64.762 billion UAH .

Maximum growth last month was recorded in the Lviv region – 12.0%. In the Zhytomyr region it was 11.2 %, in the Dnipropetrovsk and Chernivtsi regions – 11.1%, in Rivne – 10.8%. In the Poltava region increase in turnover grew by 10.7%, in Luhansk – 10.3%, in Khmelnitsky - 10.4%, in Sumy region – by 10%. In terms of absolute volume of retail sales, Kyiv in January was the leader. Trade volume in Ukraine's capital totaled 8.332 billion UAH. Analysts also note the peformance of Donetsk region – 6.8 billion UAH. Trade volume in the Dnipropetrovsk region totaled 5.275 billion UAH, In Kharkiv – 4.896 billion UAH, In Odessa – 3.775 billion UAH, Zaporozhye – 2.845 billion UAH, and in the Lviv region - 3.0 billion UAH. The smallest volume was recorded in the city of Sevastopol, where it amounted to only 744 million UAH. Government analysts say the tendency to maintain high rates of growth in turnover reflects a continuation of positive consumer sentiment, arguing that the growth rate of retail turnover is directly linked with the growth of wages and general economic stability in the country. The trends were identified in the last year, when retail trade increased some 9.5%, thanks to efficient government policies, which encouraged trade, created a transparent tax policies and reduced the regulatory burden on business. They will continue this year. Experts say the trend is based on securing price stability in the consumer market and the growth of consumer lending. In addition, each year a growing number of Internet users, which increase the amount of purchases over the Internet and using payment cards. As of December 1, 2013, the business trade sector in the consolidated budget of mandatory payments totaling 41.1 billion UAH, 15.3% of the total number of payments made.

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