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