Türkiye's retail sector witnessed significant growth in October 2024, as the Turkish Statistical Institute (TÜİK) reported a 15% year-on-year increase in retail sales volume.

Overall trade sales volume also rose by 7.2% year-on-year, driven primarily by the strong performance of the retail sector. However, on a monthly basis, trade sales volume decreased by 1.9%.

While retail sales showed promising growth, the wholesale trade sector experienced a more modest increase of 3.8% year-over-year. Month-on-month, wholesale trade sales declined by 3.4%.

The TÜİK data suggests a divergence in the performance of different sectors within the Turkish trade industry. The robust growth in retail sales indicates increased consumer spending, while the slower growth in wholesale trade may reflect factors such as supply chain disruptions or global economic uncertainties. (ILKHA)