Page 24 - UKRRptJan21

4.5.3​ Retail sector dynamics
Ukrainian retail sales accelerated to 7.8% y/y growth in real terms in 11M20 ​from 7.6% y/y growth in 10M20, Ukraine’s State Statistics Service reported on December 21. In November, retail sales advanced 12.1% y/y (vs. 15.2% y/y growth in October), or 0.2% m/m.
Regionally, the highest retail growth in 11M20 occurred in the Kyiv (16.7% y/y), Zaporizhia (15.5 y/y) and Chernihiv (12.8% y/y) regions. The decline of retail sales was limited to the Zakarpattia (-4.5% y/y) region.
Retail sales in Ukraine are booming, backed by fast growth of real wages. Strong household consumption is helping the economy to offset falling investments. We expect Ukraine’s retail sales to increase 8.0% y/y in 2020 (vs. 10.3% y/y in 2019).
Retail sales for this year through November are up 8% in real terms,
compared to the same 11-month period in 2019, reports the State Statistics Service. In November alone, retail sales were up 12.1% y/y in real terms. Analysts say this indicates that merchants were able to work about the three weekends of retail lockdown in November.
24​ UKRAINE Country Report​ January 2021 ​ ​www.intellinews.com