Macao’s retail sales value down 0.6% year on year in Q1

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Xinhua News

24th May 2022 – (Macao) The value of Macao’s retail sales for the first quarter of 2022 totaled 18.65 billion patacas (about 2.3 billion U.S. dollars), down slightly by 0.6 percent year on year, the special administrative region’s statistic department said on Tuesday.

The latest report from the Statistics and Census Service showed that among the major retail trade activities, sales values of motor vehicles dropped by 25.3 percent year on year, whereas sales values of cosmetics and sanitary articles and adults’ clothing recorded decreases of 15.6 percent and 10.9 percent respectively.

On the other hand, sales values of communication equipment and leather goods increased by 9.9 percent and 8.4 percent respectively.

As regards the sales volume index, the indices of leather goods and communication equipment registered notable year-on-year growth while the indices of motor vehicles and automotive fuels showed a decline.

The value of retail sales in the first quarter of 2022 edged up by 0.1 percent as compared with the revised figure of 18.64 billion patacas in the fourth quarter of 2021. Sales values of communication equipment soared by 42.8 percent, whereas sales values of motor vehicles and cosmetics and sanitary articles fell by 25.8 percent and 12.3 percent respectively.

Meanwhile, the sales volume index grew by 0.7 percent quarter on quarter.

In respect of retailers’ comments, 65.8 percent of the retailers anticipated a year-on-year decrease in sales volume in the second quarter of 2022, while 31.9 percent expected the sales volume to stay stable and only 2.3 percent forecast an increase.

Meanwhile, 71.0 percent of the retailers predicted that the retail prices would remain steady year on year in the second quarter, 17.2 percent foresaw a decrease and 11.8 percent expected an increase.

As compared with the first quarter of 2022, about 59.0 percent of the retailers envisaged sluggish business in the second quarter, whereas retailers expecting stable performance and those anticipating a favorable outlook together accounted for 41.0 percent of the total. (1 pataca equals 0.1237 U.S. dollar)

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