Thanks to the ongoing recovery of inbound tourism.
Total retail sales value rose 3.9% YoY to $37.5b in October mainly due to positive consumer sentiment and continued revival in inbound tourism, according to the Census & Statistics Department.
Sales of medicines and cosmetics posted the largest increase at 9.9% followed by fuels and food, alcohol and tobacco both at 8.5%.
Apparel and commodities in department stores also expanded 7% and 6.2% respectively.
Meanwhile, the sales value of miscellaneous consumer durable goods decreased 18.7%.
Books, newspaper, stationery, gifts and electrical goods, photographic equipment also declined 2.4% and 2.2% YoY respectively.
The retail business is expected to benefit from the continued recovery of inbound tourism as well as the overall stable income and employment situation in the country.
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