Wholesale trade value index drops for first time in eight quarters

07:52 - 25 September 2023

Economy

The Wholesale Trade Turnover Value Index in the second quarter of this year declined by 3.8 year on year, registering its first annual drop after eight consecutive quarters of growth, data released by Cystat show.

The index for the period of April – June declined to 175 units, marking a reduction of 3.8% compared with the respective quarter of last year.

For the period of January – June the index marked an annual increase of 2% compared with the respective period of 2022. The drop was attributed by the loss in Wholesale of agriculture raw materials and live animals which amounted to 14.6% year on year and an annual reduction of 23.3% in Other specialized wholesale.

Wholesale of food, beverages and tobacco in Q2 2023 was up by 12.5% compared with the respective period of 2022, while wholesale of household goods marked an increase of 8.3%.

Car sales and repair up by almost 20% in Q2

On the contrary the Turnover Value Index for Sales and Repair of Motor Vehicles recorded an increase of 19.2% compared to the corresponding quarter of the previous year, continuing its upward trajectory for nine consecutive quarters.

The index for the first half of 2023 recorded an increase of 19.5% compared with the corresponding period of last year, Cystat added.

By economic activity, the highest annual gains were recorded in sale of motor vehicles which in Q2 rose by 24%, followed by Sale, maintenance and repair of motorcycles and related parts and accessories which marked an annual increase of 22%.

Wholesale trade value index drops for first time in eight quarters

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