Russia Sustains Moderate Retail Sales Growth

Russia’s retail trade growth eased to 3.3% year over year in November 2025, down from 4.8% in October, though it remained well above market expectations of a 1.8% rise. Growth in trade organizations, which increased by 4%, partially offset a sharp 14.2% decline in sales at retail markets and fairs. On a month-to-month basis, retail sales fell by 3.1% in November, reversing a 2.7% gain recorded in October. Overall, retail trade expanded by 2.5% in the first eleven months of the year compared with the same period in 2024.

Retail sales in Russia climbed by 4.8% year-on-year in October 2025, a marked improvement from a 1.8% rise in the prior month and surpassing analysts' estimates of a 2.3% advance. It was the strongest growth in retail activity since January. On a monthly basis, retail activity rose by 3.7% in October, reversing the same-sized decline recorded in September.

Retail sales in Russia rose by 1.8% year-on-year in May 2025, following a 1.9% increase in the prior month. On a monthly basis, retail sales rose by 2%, rebounding from a 2.1% slump in the previous month. Considering the first five months of 2025, retail trade grew by 2.3%, down from 10.5% in the same period in 2024.