Romania's retail market ups 23% y/y in 2008, to lei 219bn

Romania's retail market together with cars and fuel sales saw a 22.6 percent climb to 219 billion lei in 2008 on the previous year, according to a study of the Polish research and consultancy company PMR Publications.

The market stood at 178.65 billion lei in 2007, when it reported a yearly growth of 34 percent, NewsIn states.

Only two Romanian companies, Altex and Ambient, made it to the top ten retailers according to sales.

The retail market is seen up 13 percent to 253 billion lei in 2009, despite the current economic environment.

The Romanian market is currently controlled by small local businesses, while modern retail is dominated by foreign companies.

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