Retail trade figures have always been viewed as a good ‘on the ground’ indication of the country’s financial health, if people feel confident and comfortable they spend more. Recent figures have shown a much awaited recovery in Lithuania’s retail trade sector. In 2011 Lithuanian trade figures demonstrated a recovery of 8.8% compared with the numbers for 2010 and 2009. 2009 end of year final figures showed a contraction of 22% with less, but still below expectations of 7% in 2010.
The BBN reported this week that last year Lithuania’s total retail trade volume reached LTL 24.2bn. Monthly trade volumes started rising from the beginning of 2011, but the growth rates only went into double figures last August and stayed that way for the rest of the year. During the last three months growth rates averaged 12%. These high rates were mainly maintained by non-food retail where the trade volume rose by nearly 15% in 2011. At the same time, food retail volumes only managed to advance 2.5% during the year as the recovery in the same sector started much later, mid 2011.
