Retail Sales Indices, February 2020 in Turkey
Retail sales volume with constant prices (2015=100) increased by 10.6% in February 2020 compared with the same month of previous year. In the same month food, drinks and tobacco sales increased by 9.6%, non-food (except automotive fuel) sales increased by 14.7%, automotive fuel sales increased by 1.8%.
Retail sales volume annual rate of change (%), February 2020
Retail sales volume increased by 1.4% on monthly basis
Retail sales volume with constant prices increased by 1.4% in February 2020 compared with the previous month. In the same month food, drinks and tobacco sales increased by 3%, non-food (except automotive fuel) sales increased by 1.9%, automotive fuel sales decreased by 1.9%.
Retail sales volume monthly rate of change (%), February 2020
Retail sales volume annual and monthly rate of change(%), February 2020
Retail turnover increased by 21.8% on annual basis
Retail turnover with current prices increased by 21.8% in February 2020 compared with the same month of previous year. In the same month food, drinks and tobacco sales increased by 24.7%, non-food (except automotive fuel) sales increased by 25.2%, automotive fuel sales increased by 8.3%.
Retail turnover annual rate of change(%), February 2020
Retail turnover increased by 2.2% on monthly basis
Retail turnover with current prices increased by 2.2% in February 2020 compared with the previous month. In the same month food, drinks and tobacco sales increased by 4.2%, non-food (except automotive fuel) sales increased by 3.4%, automotive fuel sales decreased by 4.3%.
Retail turnover monthly rate of change(%), February 2020
Retail turnover annual and monthly rate of change (%), February 2020
The next release on this subject will be on May 14, 2020.
_____________________________________________________________________________________________________
EXPLANATIONS
Annual changes refer to the change of calendar adjusted index values compared to the same month of the previous year.
Monthly changes refer to the change in seasonally and calendar adjusted index values compared to the previous month.
Value Added Tax (VAT) Declarations are used as the data source in the calculation of Retail Sales Indices. With the Tax Procedure Law Circular No. 126, dated 23 March 2020; The deadlines for submission of VAT Declarations, which must be submitted by the end of March 26, 2020, have been extended until the end of Friday, April 24, 2020, and all the VAT Declarations of February 2020 have not been submitted by the relevant parties. For this reason, Retail Sales Indices for February 2020 were calculated using alternative data sources such as e-invoice, e-archive invoice and card payment data in addition to VAT declarations in line with international norms and methodologies. After the VAT Declaration data are provided, the published indexes will be revised if necessary.
Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
