Retail sales in Taiwan hit September high

29-Oct-2018 Intellasia | CNBC | 6:00 AM Print This Post

Taiwan’s retail sector recorded the highest ever September revenue last month due to stable domestic demand growth, according to the Ministry of Economic Affairs (MOEA).

Data compiled by the MOEA showed retail sales rose 2.8 percent from a year earlier to NT$351 billion (US$11.32 billion), marking the eighth consecutive month of a year-on-year increase.

The MOEA said the growth reflected higher fuel prices caused by a spike in international crude oil prices, while promotional campaigns launched by department store chains to celebrate their anniversaries also led to higher private consumption in the month.

On a month-on-month basis, Taiwan’s retail sales grew 1.9 percent, and after seasonal adjustments, the growth was 0.8 percent, according to the data.

The data showed sales generated by fuel retailers rose 20 percent from a year earlier to NT$23.9 billion in September, while revenue posted by online retailers also grew 7.6 percent from a year earlier to NT$19.9 billion.

As a result of intensive promotion efforts, the local department store chains posted NT$25.7 billion in sales in September, up 4.6 percent from a year earlier, while sales posted by supermarket chain operators fell 0.8 percent to NT$19.1 billion.

In September, revenue recorded by convenience store chains and hyper market operators in Taiwan rose 5.1 percent and 3.3 percent, respectively, from a year earlier to NT$28 billion and NT$17.7 billion.

As for the wholesale sector, revenue also hit a September high after reaching NT$905 billion, up 2.2 percent from a year earlier, marking the seventh straight month of a sales increase.

However, the September figure was 1.5 percent lower than a month earlier and after seasonal adjustments, it was down 1.0 percent, the MOEA said.

It said a strong performance of wholesale firms supplying computers, handheld devices, other electronics, machinery and electrical equipment, served as one of the drivers to the wholesale sector’s revenue growth in September, with their sales totaling NT$415.6 billion, up 8.0 percent from a year earlier.

Meanwhile, sales posted by the food and beverage sector also rose 7.7 percent from a year earlier to NT$38.4 billion in the wake of increased buying due to the Mid-Autumn Festival holiday during September 22-24.

In the first nine months of this year, retail sales rose 3.9 percent from a year earlier to NT$3.14 trillion, while revenue posted by the wholesale sector and the food and beverage sector grew 4.2 percent and 4.9 percent, respectively, to NT$7.71 trillion and NT$355.1 billion.

The MOEA forecast retail sales for October will grow 1.5 percent from a year earlier, while sales of the wholesale sector and the food and beverage sector will grow 2.5 percent and 0.5 percent, respectively.


Category: Taiwan

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