Romanian retail private consumption up by 13.5 pct in 2016

The retail private consumption went up by 13.5 percent in 2016 compared with 2015, said on Friday the National Institute of Statistics (INS). The growth was due to the increase of sales in non-food products (15.2 percent), followed by food products trade, beverages and tobacco (13.7 percent) and fuel sales (10.2 percent), shows the INS data.

In December 2016, the retail sales went up by 7.2 percent, stimulated by the growth in non-food products sales (13.8 percent) but also in fuel sales (8.5 percent). The sale in food products, beverages and tobacco dropped by 0.4 percent.

The growth rates are due to salaries increases and the bigger Romanian consumption availability. A high part of these consumption increases are for the imported merchandise, seen in the commercial balance deterioration and in possible pressures of the RON depreciation.

The recent tendencies from Europe regarding the consumption expenses show a very modest increase.

The consumption is important both for firms and economy in general, representing around two thirds of the economic activity, according to HotNews.ro.

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The announced figures of INS are computed starting from a sample of 1,600 firms in the retail segment.

Georgiana Bendre