Macao’s value of retail sales rose 29.4 per cent quarter-to-quarter to MOP 8.92 billion (US$1.12 billion) in the third quarter, the Statistics and Census Bureau (DSEC) said in a statement on Tuesday.
In the third quarter, the sales values of Chinese food products (+142.4 per cent) and watches, clocks and jewellery (+135.8 per cent) recorded significant increases, the statement noted.
The third-quarter value of retail sales exceeded casinos’ gross gaming revenue (GGR), which amounted to MOP 4.88 billion in the same quarter, by 27.7 per cent. Prior to the COVID-19 pandemic, which has affected Macao since January, the casino sector’s gross gaming revenue used to be much higher than the value of retail sales.
The value of retail sales in the first three quarters dropped by 52.2 per cent year-on-year to MOP 26.99 billion.
The statement noted that after removing the effect of price changes, the retail sales volume index dropped by 51.9 per cent year-on-year in the first quarters.
The sales values of watches, clocks & jewellery (-70.0 per cent), adults’ clothing (-65.4 per cent), and cosmetics and sanitary articles (-62.0 per cent) suffered substantial year-on-year declines, the statement noted.
In the first three quarters, the value of retail sales dropped by 52.2 per cent year-on-year to MOP 26.99 billion.