Retail sales last year recorded a growth of 1.85 percent year-on-year, the slowest pace in the past five years, Ministry of Economic Affairs statistics released last Friday showed.
The retail industry produced revenues of NT$3.16 trillion (US$96 billion) last year, showing little growth from the previous year due to unprecedented consumer credit risks.
Vehicles and parts supplies registered the biggest decline -- at 8.75 percent -- the lowest level in the past five years. In 2005, the sector had recorded a growth of 10.59 percent. Its whole-year sales last year reached NT$478.6 billion, tallies showed.
Sales at department stores and shopping malls shrank 0.27 percent to NT$201 billion last year, making it the sector's worst year since 2004.
Hypermarkets, supermarkets and convenience store chains recorded sales increases of 1.59 percent, 1.93 percent and 8.85 percent, respectively.
Ministry statistics showed that weak consumer sentiment was expected to bounce back this year, but a clear outlook on domestic demand would not be available until next month.
The latest figures showed that the nation's wholesale, retail and food and drink sales last year totaled NT$11.17 trillion, up 6.73 percent year-on-year.
Food and drink retailers raked in revenues of NT$306.5 billion, a growth of 4.53 percent.
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