The value of total retail sales in December, provisionally estimated at $36.3 billion, rose 7.8% compared with the same month in 2022.

After netting out the effect of price changes over the same period, the provisional estimate represents a 4.8% year-on-year increase.

Of the total retail sales value in December, online sales accounted for 7.8%. Provisionally estimated at $2.8 billion, the value of this segment went down by 29.7% compared with a year earlier.

The value of sales of jewellery, watches and clocks, and valuable gifts increased 50.1%.

Increases were also recorded in the sales of other consumer goods not elsewhere classified (up 23%); wearing apparel (up 19.3%); commodities in department stores (up 4.6%); medicines and cosmetics (up 32.7%); motor vehicles and parts (up 3.5%); footwear, allied products and other clothing accessories (up 13.2%); furniture and fixtures (up 3.1%); books, newspapers, stationery and gifts (up 18.1%); and optical shops (up 11.5%).

By contrast, the value of sales of commodities in supermarkets decreased 6.3% over a year earlier.

Sales also declined in electrical goods and other consumer durable goods not elsewhere classified (down 27.9% in value); food, alcoholic drinks and tobacco (down 1.6%); fuels (down 12%); and Chinese drugs and herbs (down 5.5%).

Date: 2024.02.01