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Retail sales drop 45% in Q1

Macau’s value of retail sales fell 45.1% year-on-year to MOP 11.2 billion in the first quarter.

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UPDATED: 22 Dec 2023, 5:41 am

Macao’s value of retail sales fell 45.1 per cent year-on-year to MOP 11.2 billion (US$1.4 billion) in the first quarter, the Statistics and Census Bureau (DSEC) announced on Monday.

Macao’s economy has been hard hit by the novel coronavirus disease epidemic since late January.

According to a DSEC statement, the sales value of watches and jewellery fell 57.5 per cent, department store sales dropped 56.4 per cent and sales of adults’ clothing declined 52.9 per cent year-on-year. However, the value of supermarket sales rose 14.0 per cent.

The value of retail sales dropped 45.8 per cent quarter-on-quarter.

The sector’s sales volume index dropped 44.8 per cent in the first quarter.

Sales volume is the number of units sold within a reporting period.

According to a DSEC survey, 80.5 per cent of Macao’s retailers anticipated a year-on-year decrease in their sales volume in the current quarter, while 52.9 per cent expected “sluggish” business in the March-May period.

(The Macau Post Daily/Macau News)

UPDATED: 22 Dec 2023, 5:41 am

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