Economics & Trade

Q1 retail sales in Faroe surge year-on-year

Image credits: Statistics Faroe Islands.

Total retail sales in the Faroe Islands for the first quarter of 2021 increased significantly compared to those of the first three months of the previous year, according to a report from Statistics Faroe Islands.

The largest increase was noted in the Clothing and Footwear category of goods, with retail sales jumping by as much as 59 percent in Q1 2021 compared to Q1 2020, the government agency said, adding that average prices in that category rose by 3 pc. during the same period.

Retail sales figures are divided into three main categories: Groceries and Non-alcoholic Drinks, Furnishings and Household Equipment and Clothing and Footwear.

As for Furnishings and Household Equipment, total retail sales grew by 21 pc. year-on-year, with prices in the category going up on average by 1 pc.

Meanwhile, Statistics Faroe Islands added, the Groceries and Non-alcoholic Drinks category saw a 6-pc. increase in total retail sales, with average category prices increasing by 0.4 pc.

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