Page 26 - UKRRptApr21

4.5.3 Retail sector dynamics
Ukraine’s retail turnover accelerated in February as the economic recovery slowly gathers momentum, the state statistics agency reported on March 23.
Ukrainian retail sales increased 4.6% y/y in 2M21 accelerating from a 3.5%% y/y surge in January, Ukraine’s State Statistics Service reported on March 22. In February, retail sales advanced 5.6% y/y or 1.3% m/m.
Regionally, the highest retail growth in 2M21 occurred in Kyiv (11.9% y/y), Chernihiv (8.3% y/y) and Chernivtsi (7.8% y/y) regions. The largest declines were in Cherkasy (-2.4% y/y), Volyn (-1.9% y/y) and Kirovohrad (-1.7% y/y) regions.
“The February results for retail are disappointing,” said Evgeniya Akhtyrko of Concorde Capital said in a note.” We would expect a much greater advance given no quarantine restrictions during the month and a relatively stable pandemic situation. March retail results are not likely to be stellar, as quarantine restrictions are being reintroduced in the second half of the month. We expect consumer demand to stay strong in 2021, allowing retail sales to accelerate to 10% y/y (vs. 8.4% y/y growth in 2020).”
Retail sales growth slowed to 3.5% y/y in January, down from 13.4% y/y growth in December, reports the State Statistics Service. January’s 2.5 week lockdown dented sales in a traditionally slow month.
26 UKRAINE Country Report April 2021 www.intellinews.com