Page 115 - RusRPTAug24

4.5.3 Retail sector dynamics
Retail sales data released for July were broadly in line with expectations, as growth slowed from 7.5% y/y in May to 6.3% in July. We estimate that sales grew by around 0.2% m/m (which is weaker than that recorded over the past year) and by 1.0% q/q in Q2.
The retail trade turnover in Russia moved up by 8.8% year-on-year during first six months of 2024 to 25.842 trillion rubles ($299.3 bln) in comparable prices, the Russian Federal State Statistics Service (Rosstat) said.
Retail sales in June 2024 gained 6.3% annually to 4.524 trillion rubles ($52.4 bln).
In June of this year, 96.2% of the retail trade turnover were formed by trading companies and individual entrepreneurs operating outside the market. The share of retail markets and fairs was 3.8% (in June 2023 - 95.8% and 4.2% respectively).
The ratio of foods, including beverages and tobacco products, was 47.7% in the retail trade structure in June 2024. The share of nonfoods was 52.3% (in last June - 48% and 52% respectively).
Retail sales in Russia rose by 7.5% from a year earlier in May 2024, following an 8.2% surge in the prior month. It marked the 14th consecutive month of growth in the country's retail activity and at a solid pace. On a monthly basis, retail trade rose by 1.9% in May, after a revised 2.4% drop in the prior month. Considering the first five months of the year. retail sales grew by 9.3% over a year ago.
115 RUSSIA Country Report August 2024 www.intellinews.com