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Retail Units Closing Rapidly in Hungary

• 27 May 2024 9:26 AM
• Hungary Around the Clock

There were 106,300 fewer retail stores at the end of 2023, a decline of 16.3% from four years earlier, the Central Statistics Office said.

The number fell by 3.6% in the second half of last year alone, as 3,955 retail units closed between June and December.

Excluding the 7,150 shops selling vehicle and spare parts, which typically do not serve households, then the number of retail units supplying households dropped below 100,000.

As there were 157,600 such shops in 2005, their number has fallen by 37% over 20 years.

Photo: courtesy of akcio-shop.hu

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Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

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