Turnover generated by Russian retail market up 3.4% in H1 2010

2010-08-02

In H1 2010 sales generated by the Russian retail market increased by 3.4% year on year in volume terms according to the Federal State Statistics Service (Rosstat). In contrast, the figure for the first half of the previous year was negative and amounted to -2.5%. Since that time (i.e from Q3 2009 onwards) Russian retail market's turnover, in volume terms, have been rising.
In value terms, turnover amounted to RUB 7,535.3bn ($250bn) in H1 2010. In comparison, in H1 2009, this figure was RUB 6,836.9bn ($226.5bn).
Of the H1 2010 figure, the sale of food items amounted to RUB 3,691.4bn ($122.3bn), against RUB 2,843.9bn ($94.2bn) for non-food products.
One of the reasons for the increases in sales is rising consumer demand, which also fuels an improving GDP in Russia. According to the market consensus, the increase of GDP in 2010 will amount to 4-5% year on year.