Bulgaria Posts Strongest Retail Sales Growth in the EU

Retail trade across the European Union showed mixed dynamics in March, with Bulgaria standing out as the strongest performer on an annual basis, according to Eurostat data.

On a monthly basis, retail sales in the euro area declined by 0.1%, following a 0.3% drop in February. Across the wider European Union, sales rose by 0.5% after a 0.5% contraction in the previous month. Growth was driven mainly by non-food products, while declines were recorded in food, beverages and tobacco, as well as automotive fuel sales.

In Bulgaria, retail trade expanded by 2.1% compared to February, when it had already posted a 2.2% increase. While this monthly rise was not the highest in the bloc, several countries recorded stronger gains, including Slovenia (4.35%), Luxembourg (4.0%), and Belgium (3.6%). At the other end of the spectrum, Germany saw a 2.1% decline, while Malta, Italy, and Latvia also reported weaker performance.

On an annual basis, the contrast is more pronounced. Retail sales increased by 1.2% in the eurozone and by 1.9% across the EU as a whole, while Bulgaria recorded a sharp 12.4% rise compared with March of the previous year, following a 7.3% increase in February. This marked the strongest annual growth in the entire European Union.

Only Hungary (8.2%) and Malta (7.5%) also posted relatively strong yearly gains, while declines were registered in Romania (minus 2.3%) and Germany (minus 2.0%), underscoring the uneven recovery across member states.

Source: Sofia Morning News