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News / 24 December 2013 | 10:53
Retail turnover continues growing in Ukraine

Retail turnover continues growing in Ukraine

Ukraines State Statistics Service has disclosed data on retail trade turnover from January to November 2013. According to the agency, retail trade turnover totaled 793.7 billion UAH, which is up 9.2% YOY. In the 11 months of 2012, the retail turnover grew by 15.7% YOY. Specifically, restaurant industry (including turnover of individual entrepreneurs) totaled 22 billion UAH  (up 1.1% YOY), the Information-Analytical  Bulletin of the Cabinet of Ministers informs.

According to economic analysts, these statistics reflect positive trends in the Ukrainian economy. The growth of retail turnover reflects growth of real income of population. Analysts say that such a significant increase partly reflects a deshadowing of retailers. Its growing share falls under the organized points of sales. The population has grown accustomed to purchasing goods in the trade networks where quality and shelf life are controlled much better than in the informal or semi-formal retail establishments. Customers might get a better deal, but they most definitely might loose on quality.

Also, analysts note that foods account for about 40% of total retail turnover. At year end 2012, the share of foods sold in retail chains is 37.1%.

Experts note that in general, the population trusts goods produced domestically. At year end 2012, over 85% of retail foods, were of Ukrainian origin. According to analysts, this is a fairly high level, which indicates the country's food security.

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