The nation’s wholesale sector last month saw its revenue rise to a new record high after growing 7.4 percent year-on-year to NT$871.9 billion (US$28.68 billion), backed by vigorous demand for smart automation machines, electronic devices and petrochemical products.
That brought revenue in the first five months of this year to a new high of NT$4.11 trillion, a 4.5 percent increase compared with the same period last year, Ministry of Economic Affairs (MOEA) data showed.
The growth momentum was also partly supported by increasing demand for electronic components and steel products, Department of Statistics Deputy Director-General Wang Shu-chuan (王淑娟) said.
The ministry’s latest data showed that revenue in the retail sector last month grew 5.7 percent year-on-year to NT$356.5 billion, while sales in the restaurant and beverage sector increased 3.9 percent to NT$39.8 billion.
Persistent demand for telecommunications products and home appliances lent support to the retail sector’s revenue growth, the ministry said.
Supermarket sales led retail sales last month at NT$18 billion (up 7.3 percent year-on-year), followed by convenience stores at NT$29.1 billion (up 5.1 percent), department stores at NT$27.5 billion (up 0.1 percent) and hypermarkets at NT$15.5 billion (down 0.7 percent), the ministry’s data showed.
From January to last month, the retail sector’s cumulative revenue increase 4.7 percent year-on-year to NT$1.75 trillion, while the restaurant and beverage segment reported revenue growth of 4 percent to NT$196.1 billion.
The ministry gave an optimistic outlook on domestic consumption for the rest of this year, despite rising concerns about the possible effect of pension reform.
Asked if the new pension policy would drag down domestic demand, Wang said that an upward trend in employees’ regular income should offset the negative impact from pension reform efforts.
The ministry said it expects the wholesale and retail sectors to extend the uptrend, with revenue for the wholesale sector to grow 4.2 percent year-on-year and retail sector to increase 5.5 percent this month.
The optimistic forecast is due partly to this year’s FIFA World Cup and the long Dragon Boat Festival holiday weekend, which would boost consumption, the ministry said.
Revenue generated by local food and beverage suppliers is forecast to grow 3.8 percent this month, the ministry added.
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