Home > Statistics > Turnover of trade > 2020 > October > Turnover in retail trade developed strongly in October, wholesale trade continued to fall

Published: 14 December 2020

Turnover in retail trade developed strongly in October, wholesale trade continued to fall

According to Statistics Finland, turnover in total trade adjusted for working days contracted in October by one per cent from October 2019. As in the previous month, turnover decreased in October in all main industries of trade except for retail trade. In total trade, the working day adjusted volume of sales, from which the impact of prices has been eliminated, rose by 0.7 per cent in October. In this year's September, turnover went up by 0.1 per cent, while sales volume rose correspondingly by 2.1 per cent.

Annual change in working day adjusted turnover and sales volume in total trade (G), %

Working day adjusted turnover in retail trade has developed positively since May of this year due to strong growth in daily consumer goods and department store trade. The positive growth continued also in October as turnover rose by 4.6 per cent and sales volume by 4.8 per cent from last year's October. The growth in daily consumer goods trade has been quite rapid since March 2020. The working day adjusted turnover in daily consumer goods trade grew by as much as 8.8 per cent in October compared to October 2019. Working day adjusted turnover in department store trade was also 3.8 per cent up year-on-year in October. In specialised store trade, the development of working day adjusted turnover has slowed down slightly in recent months after the recovery in summer. In October, the turnover of the industry in question grew by good one per cent and the sales volume, in turn, by 2.6 per cent compared with the previous year.

The working day adjusted turnover of the biggest trade industry in terms of turnover, that is, wholesale trade, has decreased throughout 2020 and in October it decreased further by close on three per cent. By contrast, the sales volume in wholesale trade remained almost on level with October 2019. Turnover adjusted for working days in motor vehicle trade also fell in October, as turnover plummeted by 5.6 per cent from one year ago and sales volume adjusted for working days by 6.7 per cent from last year's October.

Annual change in working day adjusted turnover and sales volume in industries of trade, October 2020, % (TOL 2008)

Turnover and sales volume declined from the previous month

The development of seasonally adjusted turnover in total trade compared with the previous month has been positive since the plunge in April 2020 up to September 2020. However, in October seasonally adjusted turnover in total trade made a slight downturn, when turnover decreased by 0.7 per cent compared to September. Over the same period, the volume of sales fell by 1.2 per cent. In September, turnover and sales volume remained almost on level with the previous month, as turnover grew by 0.2 per cent and sales volume by 0.6 per cent from August.

Change in seasonally adjusted turnover and sales volume in total trade (G) from the previous month, %

Trend of turnover and sales volume in total trade

The calculation of indices of turnover of trade is based on the Tax Administration’s data on self-assessed taxes, which are supplemented with Statistics Finland’s sales inquiry. The volume index of sales is calculated by removing the effect of price changes from the value index series.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

The data for the latest month are preliminary and they may become significantly revised particularly on more detailed industry levels in coming months.

Source: Turnover of trade, Statistics Finland

Inquiries: Suvi Kiema 029 551 3509, Reetta-Maria Salokannel 029 551 3657, palvelut.suhdanne@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Annual change of working day adjusted turnover and sales volume in industries of trade, % (TOL 2008) (14.12.2020)

Revisions in these statistics

• Revisions in these statistics (14.12.2020)

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Updated 14.12.2020