Retail trade improves but still a far cry from last year’s volumes

Eurostat figures show that the volume of retail trade in Malta increased by 5.7% in June when compared to the previous month

Retail trade took a battering in April but started recovering gradually after COVID-19 restrictions were lifted
Retail trade took a battering in April but started recovering gradually after COVID-19 restrictions were lifted

Retail trade continued to improve in June with a 5.7% increase in volume over the previous month, figures out today show.

However, the numbers released by Eurostat, the EU statistical agency, show that the volume of retail trade in June was down by 8.4% when compared to the same month last year.

The year-on-year comparison shows that Malta experienced the second largest decrease after Bulgaria in the EU.

Retail trade across the EU took a hit as a result of restrictive measures introduced to curb the spread of COVID-19.

However, by June most EU countries had started lifting restrictions to get their economies going.

Malta allowed non-essential shops to reopen in May, followed by restaurants.

According to Eurostat, the volume of retail trade in Malta dropped by 22.6% in April when compared to March. This was at the height of the pandemic.

May saw retail trade increase by 10.1% when compared to the previous month, moderating to 5.7% in June.