VILNIUS - The latest set of official statistics from Lithuania suggests the country's famously bullish retail sector is showing no sign of a slowdown.
Preliminary results from Statistics Lithuania reveal a 21.1 per cent rise in retail turnover during the first five months of 2007 compared to the same period in 2006. The findings include data on catering enterprises, turnover of retail trade, sales and repair of motor vehicles, and automotive fuel costs (VAT excluded).
Total turnover during January-May 2007 reached 12040.6 million litas.
Larger companies performed best in the important food sector, with businesses of 50 or more employees seeing turnover rise by an average of 12.3 per cent. In contrast, smaller enterprises recorded negative figures with turnover dropping by 14.8 per cent on average and signalling difficult times for farmers and home producers.
The trend was matched in the non-food sector, where large companies experienced a 28 per cent rise while companies employing a maximum of nine persons witnessed a reverse to the tune of 14 per cent.
In terms of retail sectors, Lithuania's crucial textile industry will give real cheer to investors. Businesses dealing in textiles, clothing and footwear recorded a remarkable 37.6 per cent boost year-on-year.
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