OREANDA-NEWS. March 05, 2008. This past January, compared to January 2006, Latvia registered a 0,7 percent decrease in retail trade, which is the second steepest decrease in the European Union (EU), according to the EU's statistical bureau "Eurostat".

In 2007, Latvia registered the steepest increase in retail trade in the EU almost the whole year, but Latvia has lost its leader position the past few months. Compared to December 2007, Latvia registered the most rapid decrease in retail trade this past January – 1,5 percent.

When compared to January 2007, retail trade in January 2008 increased 1,8 percent in all 27 EU countries, and shrunk by 0.1 percent in the euro-zone.

The largest annual increase in retail trade in the EU in January was observed in Slovakia, where it grew by 15,6 percent, followed by Bulgaria – 14,8 percent, Lithuania – 14,5 percent and Poland – 8,3 percent. Retail trade turnover in Estonia this past January increased by 1,1 percent.

In January, compared to January 2007, retail trade shrunk only in Spain - down 2,4 percent, Latvia - down 0,7 percent, and Belgium - down 0,7 percent.

The largest decreases in retail trade in January, compared to December 2007, were registered in Latvia - down 1,5 percent, Spain - down 1,5 percent, and Denmark - down 0,8 percent. Whereas, the largest increases were recorded in Belgium - up 9,5 percent, Lithuania – 7,4 percent and Portugal – 4,1 percent.

"Eurostat" data for January includes data on 16 EU member states. Data on other EU countries were still not available.