Retail sales volume, turnover in key industries rise in April

Retail sales volume, turnover in key industries rise in April

Retail sales volume, turnover in key industries rise in April

Both retail sales and turnover in four key sectors, namely industry, construction, trade and services, have increased on an annual basis in April, data from the Turkish Statistical Institute (TÜİK) have shown.

The retail sales volume index rose by 27.5 percent in April from a year ago, though slowing from the 28.8 percent year-on-year increase recorded in the previous month.

Consumer spending was one of the main drivers of GDP growth in the first quarter, when the Turkish economy expanded by 4 percent, accelerating from the 3.5 percent rise in national income in the previous quarter.

Final consumption of households rose 16.2 percent in the January-March period of this year compared with the first quarter of 2022, according to the latest GDP data.

TÜİK reported on June 13 that food, drinks and tobacco product sales exhibited an annual increase of 21.2 percent, while non-food retail sales grew 35 percent.

Automobile fuel sales rose 12.5 percent year-on-year.

Electronic goods and furniture sales increased nearly 26 percent from April 2022, but they fell by 2.8 percent compared with March.

The annual and monthly increases in computer and telecommunications equipment sales were 77 percent and 4 percent, respectively.

Orders via mail and the internet grew more than 51 percent in April from a year earlier, while the month-on-month increase was 2.1 percent.

Overall retail sales increased only 0.9 percent from March.

In the retail sector turnover leapt 82.3 percent in April compared with the same month of last year. The month-on-month increase was 3.4 percent.

Consumer confidence rose for the second month in a row in May, with the gauge for consumer morale improving 4 percent from April.

Turnover in key sectors rise

TÜİK separately reported on June 13 that the combined turnover of the industry, construction, trade and services sectors rose by 56.2 percent in April from a year earlier.

In the industry sector, turnover increased 41.8 percent year-on-year, while in manufacturing the annual rise was 41.9 percent.

Companies in the construction sector saw their turnover soar more than 93 percent.

In the trade and services sectors, the annual increase in their turnover was 60.3 percent and 66.1 percent, respectively.

Turnover in those four main sectors grew by 3.6 percent in April from March.