Latvia's retail trade growth picked up to 2.1 percent year-on-year in June 2019 from 1.2 percent in the previous month, boosted by sales of food, beverages or tobacco (0.8 percent vs -0.5 percent) and automotive fuel (1 percent vs -2.9 percent). Meanwhile, non-food trade increased at a slower rate (3.6 percent vs 4.4 percent). Retail Sales YoY in Latvia averaged 5.72 percent from 1999 until 2019, reaching an all time high of 60.60 percent in January of 1999 and a record low of -28.50 percent in December of 2009.
Retail Sales YoY in Latvia is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Latvia to stand at 3.10 in 12 months time. In the long-term, the Latvia Retail Sales YoY is projected to trend around 4.20 percent in 2020, according to our econometric models.