The cumulative total for the first three quarters exceeds 2019’s but consecutive quarterly declines in 2023 have retailers concerned.
retail sales
Locals are heading to the mainland to spend their hard earned patacas, while tourists are spending a lot less in Macao than they used to.
Total value of retail sales grows 200 per cent year-on-year to MOP 20.70 billion between April and June.
First quarter results are promising, however almost half the city’s traders expect business to be sluggish in the coming months.
Macao’s value of retail sales rose 29.4%t 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.
The value of Macao’s retail sales fell 61.3% year-on-year in the second quarter to 6.92 billion amid the COVID-19 pandemic.
Macau’s value of retail sales fell 45.1% year-on-year to MOP 11.2 billion in the first quarter.
The value of Macau’s retail sales dipped by 0.5% year-on-year to 18.06 billion patacas, while the sales volume dropped by 0.7%.
Macau’s restaurateurs reported “subdued” business in July.
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