Press Release 15/02/2024
TRADE INDEX IV/2023
Sales in the Trade sector in the Basque Country fell by 1.6% in 2023 as a whole
In the fourth quarter of 2023, sales were down 1.8% compared to the same quarter of the previous year
In 2023 as a whole, sales in the Trade sector decreased by 1.6% at constant prices in respect of 2022, according to Eustat data. Evolution for the year as a whole was positive both in Sale & Repair of Motor Vehicles, with a 5.9% increase in sales, and in Retail Trade, where annual growth stood at 0.9%. However, in the Wholesale Trade sector, cumulative sales over the course of 2023 were 4.7% lower than those observed during 2022.
Sales in the Trade sector decreased over the course of 2023 in all three provinces. The decrease in relation to 2022 reached 2.1% in Álava, 1.8% in Bizkaia, and finally, 1.0% in Gipuzkoa.
Looking at the data from the fourth quarter of 2023 alone, sales in the Trade sector fell by 1.8% in relation to the fourth quarter of 2022 once corrected for the corresponding calendar effects and at constant prices. Compared to the previous quarter and once corrected for seasonal effects, sales were up 0.3% in the fourth quarter of 2023.
Within Trade, the year-on-year evolution in sales was positive in both the Sale & Repair of Motor Vehicles sector, with growth of 10.2%, and the Retail Trade sector, where sales were 0.3% higher than in the final quarter of the previous year. In contrast, in the Wholesale trade sector, sales were 5.2% lower than those observed in the fourth quarter of 2022, at constant prices and once corrected for calendar effects.
In relation to the previous quarter, once corrected for seasonal effects, there was an increase in sales in both Sale & Repair of Motor Vehicles and Retail Trade, with quarter-on-quarter growth of 2.9% and 0.3% respectively. However, in the Wholesale Trade sub-sector, sales fell by 0.4% compared to the previous quarter.
Trade index of the Basque Country. Provisional data. 2023/IV
| | Constant prices |
| | t / t-4 | t / t-1 | A (t) / A (t-4) |
| GENERAL INDEX | -1,8 | 0,3 | -1,6 |
| Wholesale and retail trade and repair of motor vehicles | 10,2 | 2,9 | 5,9 |
| Wholesale trade | -5,2 | -0,4 | -4,7 |
| Retail trade | 0,3 | 0,3 | 0,9 |
| | | | |
| HISTORIC TERRITORIES | | | |
| Araba/Álava | -2,1 | 0,1 | -2,1 |
| Bizkaia | -2,5 | 0,0 | -1,8 |
| Gipuzkoa | -0,3 | 0,7 | -1,0 |
| | | | |
| EMPLOYMENT | 1,5 | 0,5 | 1,3 |
t / t-4 Year-on-year variation. Data corrected for calendar effects
t / t-1 Interquarterly variation. Deseasonalised data
A(t) / A(t-4) Year-on-year change so far this year. Data corrected for calendar effects
Date Februay 15, 2024
Source: Eustat. Trading Index
All three provinces experienced a downturn in sales in year-on-year terms at constant prices. In Bizkaia sales were down 2.5% in respect of the fourth quarter of 2022, in Álava they fell by 2.1%, and finally, in Gipuzkoa sales decreased by 0.3%.
However, in relation to the third quarter of 2023, sales remained stable in Bizkaia and rose in Gipuzkoa and Álava, by 0.7% and 0.1% respectively.
The index of people employed in the Trade sector in the Basque Country increased by 1.5% in the fourth quarter of 2023 in relation to the fourth quarter of 2022. With respect to the third quarter of the year, growth stood at 0.5%.
NOTE
Eustat would like to thank all the establishments that have collaborated with gathering information. As a result, the index for this quarter was calculated with 96.1% coverage.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62