Taiwan’s food and beverage industry last month came roaring back with a monthly sales growth of 29 percent, the largest single-month gain on record, the Ministry of Economic Affairs said on Tuesday.
Food and beverage vendors’ sales rose to NT$61.9 billion (US$2.1 billion), although the figure was 8.7 percent lower than the NT$67.9 billion recorded in the same month last year, ministry data showed.
HOLIDAY SPENDING
The strong monthly growth was driven by the reduced risk of COVID-19 in the nation, as well as the International Workers’ Day holiday weekend and family outings to celebrate Mother’s Day, Department of Statistics Deputy Director-General Wang Shu-chuan (王淑娟) said in a news release.
The retail industry last month also recovered with sales growing by a monthly 8.3 percent to NT$300.8 billion, as consumers returned to shops and department stores, Wang said.
Retail revenue was still 5.8 percent lower than the NT$319.5 billion the industry posted a year earlier, due largely to a slowdown in the tourism sector, the ministry said.
RECORD MONTH
Meanwhile, supermarkets, convenience stores, hypermarkets, and online and mail-order shopping outlets posted gains of 8.5, 7.3, 14.2 and 22.2 percent respectively, which were all records for the month of May, the ministry said.
GROWTH FORECAST
For this month, the government’s June 7 easing of COVID-19 control measures, the Dragon Boat Festival holiday weekend and school graduation season are all likely to spur continued business growth for restaurants and retailers, the ministry said.
In the wholesale sector, sales last month fell 6.8 percent from a year earlier to NT$795.7 billion, as exports suffered as a result of weak global demand caused by the COVID-19 pandemic, it said.
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