Methodological explanation for the news release:
Turnover indices in the Trade sector
Observation units
Observation units are mostly the enterprises whose principal activity is classified into retail trade, wholesale trade and sale and maintenance of motor vehicles.
The sampling frame of the survey includes all legal forms of enterprises that perform one of the trade activities in section G of the National Classification of Activities (NKD Rev.2) as their main activity. The sample includes all large and medium enterprises, while the rest were determined randomly. The selection criteria used are activity and turnover.
Definitions
Wholesale is purchase of goods for further sale to merchants, entrepreneurs, legal persons and others that purchase goods for performing their professional or profit-making activity.
Retail trade is purchase of goods for further sale to final users (for personal and household use).
Turnover comprises the totals invoiced by the observation unit during the reference period, and this corresponds to market sales of goods or services supplied to third parties.
Turnover includes all taxes for goods and services, invoiced by the observation unit, except VAT.
Turnover also includes all other charges (transport, packaging, etc.) passed on to the customer, even if these charges are listed separately in the invoice.
Price reductions such as rebates, bonuses or discounts as well as other revenue reductions (e.g. annual discount schemes) are to be deducted from turnover.
Turnover does not include:
- Extraordinary income (e.g. from sales of capital assets),
- Non-operating income (e.g. income from letting or renting buildings used for no operating purposes),
- Financial income (e.g. interest payments, dividends from associated companies),
- Company-related subsidies.
Data publishing
Turnover trade indices measure the turnover in retail and wholesale trade in the form of nominal and real (price adjusted) index numbers, and their change rates rather than absolute (monetary) turnover. Hence, the indicator describes exclusively the development and not the level of turnover.
Data are published as preliminary (each month during the current year) as well as final (at the end of first quarter of the next year).
Calculation of indices
The indices show the monthly turnover value related to a base turnover value (currently base 2015 = 100). The base value is the arithmetic mean of the twelve monthly turnover results for the base year. The index number regarding nominal turnover is calculated in the following manner: (monthly turnover/base value) x 100.
To obtain a real turnover index number, the turnover is deflated by using the relevant price indices.
The rate of change is determined by comparing a current month index number with the respective index number of the same month of the previous year.
The turnover could be influenced by calendar and seasonal changes which have to be eliminated. Institutional approach is applied (the whole turnover at the level of enterprise).
Value indices (value in nominal terms): current prices are considered, and the impact of the change in prices is not eliminated.
Volume indices (value in real terms): by using deflators made up of consumer price indices the change in prices is eliminated.
Retail trade data are given the by following groups: Retail sale of food, beverages and tobacco (G47.11, 47.2); Retail sale of non-food products, except fuel (47.19, 47.4, 47.5, 47.6, 47.7, 47.8, 47.9); Retail trade, except automotive fuel (47 without 47.3) and Retail trade of automotive fuel (47.3).
Last updated:
28.12.2018
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