Retail sales dropped 8.4% in January

Total retail sales value also dropped 9.3% from $4.3b to $3.9b.

Retail sales dropped 8.4% in January 2018 compared to January 2017 when Chinese New Year was celebrated, the Department of Statistics revealed. Excluding motor vehicles, retail sales declined 8.1%.

According to data, the total retail sales value in January 2018 was estimated at $3.9b, lower than the $4.3b in January 2017. The estimated proportion of online retail sales to total retail sales is around 4.1%.

Due to higher sales recorded a year ago when Chinese New Year fell in January 2017, retail sales of wearing apparel & footwear, food retailers, supermarkets & hypermarkets, department stores and watches & jewellery decreased between 10.5% and 17.7% in January 2018.

Similarly, retail sales of motor vehicles, medical goods & toiletries, mini-marts & convenience stores, recreational goods and computer & telecommunications equipment declined between 3.0% and 9.8% during this period.

Meanwhile, retail sales of furniture & household equipment, petrol service stations and optical goods & books rose between 3.1% and 7.8%.

Sales of food & beverage services slipped 13.2% in January 2018. This was due mainly to higher sales recorded a year ago when Chinese New Year fell in January 2017. The total sales value of food & beverage services in January 2018 was estimated at $667m, lower than the $769m last year.