Turkey Retail Sales Growth Strongest In 22 Months

(RTTNews) - Turkey's retail sales growth accelerated further in January to the highest level in nearly two years, the Turkish Statistical Institute said on Wednesday.

The volume of retail sales climbed 18.8 percent on a yearly basis in January, faster than the 16.5 percent rise in December.

Moreover, this was the sharpest growth since March 2024, when sales had surged 20.1 percent.

The annual sales growth in non-food products, except automotive fuel, quickened to 26.4 percent from 20.2 percent, and that in textiles, clothing, and footwear improved to 14.9 percent from 6.6 percent. Meanwhile, the sales of food, beverages, and tobacco increased at a slower pace of 9.5 percent versus 10.2 percent a month ago.

Data also showed that online retail sales were 29.7 percent higher compared to a 17.4 percent growth seen in December.

Monthly, retail sales climbed 2.4 percent in January, following a 1.8 percent gain in the prior month.