Retail sales up 3.9% to $37.5b in October

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.