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Total retail sales down 1.2% YoY in June

Total value for retail sales was $27.7b.

The value of total retail sales decreased 1.2% to $27.7b in June 2022 compared with the same period in 2021, the Census and Statistics Department (C&SD) said.

According to C&SD, a government spokesman said the retail sales improved in the second quarter with its value rebounding from the first quarter to mild year-on-year growth.

But the momentum softened in the latter part of the quarter along with increased infections and interest rate hikes by major central banks.

READ MORE: Situation of SMEs remains stable as diffusion index rises to 48.6

Of the total retail sales, online sales was over 8.2% with an estimated value of $2.3b, which is up 0.5% from June 2021.

Per retail outlet type, the value of sales in supermarkets decreased by 0.3%. Followed by sales in department stores which was down by 2.4%, wearing apparel (-4.0%), electrical goods and other consumer durable goods not elsewhere classified (-13.3%); medicines and cosmetics (-1.7%); motor vehicles and parts (-10.9%); furniture and fixtures (-1.8%); and footwear, allied products and other clothing accessories (-8.6%).

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