On a monthly basis, food, drinks and tobacco products have seen an increase in the eurozone but dipped in the EU area.  Photo: Shutterstock

On a monthly basis, food, drinks and tobacco products have seen an increase in the eurozone but dipped in the EU area.  Photo: Shutterstock

After a 7.2% dip in volume in June 2022, the grand duchy saw its retail trade activity go up again. Compared to July 2021, however, the country has recorded one of the largest year-on-year declines.

Compared to other nations in the EU and euro zones, the grand duchy progressed well during July, reports Eurostat. On average, in the euro area, the seasonally adjusted volume of retail trade increased by 0.3%.  Ahead of Luxembourg were Germany (+1.9%) and the Netherlands (+1.7%). Poland, like Luxembourg registered a growth in volume of 1.5%. At the other end of the ranking, Austria (-1.8%), Finland (-1.7%) and Spain (-1.0%) recorded the biggest decreases in retail trade activity.

In July, the automotive fuel industry saw an increase of 0.4% in the euro zone and 0.3% in the EU, foods, drinks and tobacco (+0.1% in euro zone and -0.1% in EU), non-food products (-0.4% in euro zone and -0.2% in EU) saw differences in the different zones.

However, on a yearly basis, Luxembourg with a loss in volume of 6.3% was near the bottom of the ranking in terms of turnover, placing second to last after Denmark (-7.7%). Slovenia (+25%), Malta (9%) and Poland (7.6%) witnessed the biggest positive trends in comparison to July 2021.

The index uses deflated prices to follow the evolution of the turnover in retail trade.