In May of this year, Serbia’s retail trade sector demonstrated robust growth compared to the same period last year, according to the Republic Institute of Statistics.
The turnover of goods in retail trade increased by 6.6 percent in constant prices, reflecting a positive trend in consumer activity. In current prices, the turnover saw a more substantial rise of 11.4 percent, indicating both increased sales volumes and potential price effects.
Looking at the cumulative data for the first five months of 2024 compared to the same period in 2023, retail trade turnover grew significantly. In current prices, there was a notable 12.9 percent increase, driven by continued consumer spending across various product categories. Adjusted for inflation, the growth in constant prices stood at 7.7 percent, underscoring sustained real growth in retail sales.
Specifically, the food, beverages and tobacco segment reported a robust performance, with a 10.9 percent increase in current prices and an 8.9 percent rise in constant prices compared to May last year. This sector’s growth reflects strong consumer demand for essential items.
Meanwhile, non-food products excluding motor fuels also saw substantial growth, recording an 11.7 percent increase in current prices and an 8.4 percent increase in constant prices year-on-year. This indicates a buoyant market for consumer goods beyond necessities, contributing to the overall positive performance of Serbia’s retail sector in May 2024.
