Overall revenue in the retail sector last month hit another record high of NT$311.3 billion (US$10.01 billion), up 4.5 percent year-on-year, the Ministry of Economic Affairs said yesterday.
Mounting sales of general merchandise and vehicles were the main drivers, the ministry said, adding that increasing e-commerce and catalogue sales also contributed to the growth.
Department store sales were propelled 9.4 percent as newcomers entered the market, accompanying growing sales in luxury goods and catering services, it said.
Supermarkets, hypermarkets and convenience stores all witnessed increased sales, by 7 percent, 8.9 percent and 2.9 percent respectively, as retailers launched reward programs and exclusive product sales.
The summer heat might further boost sales of refreshments this month, the ministry said.
“We have observed robust demand in the domestic market,” Department of Statistics Deputy Director-General Wang Shu-chuan (王淑娟) told a news conference in Taipei. “The domestic job market has improved with higher national income per capita.”
“The government has lowered taxes this year, benefiting up to 3.19 million households,” Wang said, adding that the additional income was reflected by an increase in domestic expenditure.
The retail sector is likely to continue to grow in the coming months as it approaches peak season in October and November, she said.
The food and beverage sector posted record-high revenue of NT$68.6 billion last month, representing an annual increase of 5.1 percent, which the ministry attributed to the Dragon Boat Festival, the graduation season and the summer heat.
Compared with the strong performance in the retail and food and beverage sectors, the wholesale sector witnessed a 6 percent year-on-year decline in revenue to NT$834.4 billion.
The ministry said the decline was due to the ongoing trade dispute between the US and China, which depressed global market demand, and caused prices of steel products and petrochemical raw materials to fall.
The wholesale revenue of construction materials and chemicals posted decreases of 13 percent and 14.3 percent respectively last month, while machinery equipment declined by 3.2 percent, the ministry said.
The ministry forecast a slight increase in revenue in the wholesale sector this month, but a survey of companies showed that revenue might continue declining by between 6 and 9 percent year-on-year.
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