Sales in the food and beverage sector last year rose 18.8 percent from a year earlier to NT$1.03 trillion (US$32.9 billion), the highest ever, with sales last month expanding for the 20th consecutive month, the Ministry of Economic Affairs said on Tuesday.
Last month’s sales increased 7.5 percent to NT$94.1 billion from a year earlier as restaurants and beverage outlets benefited from holiday consumption, special sales promotions and new brand launches, the ministry said in a report, adding that catering services were boosted by demand for in-flight meals as airlines increased flights.
The sector is expected to perform well this month during the high season for corporate gatherings, but sales might be lower than a year earlier due to a high comparison base, the ministry said, adding that sales are projected to fall by 3.2 percent to 6.2 percent annually.
Photo: CNA
Meanwhile, sales in the retail sector last year rose 6.9 percent year-on-year to NT$4.58 trillion, also the highest on record, as they increased last month for the 28th consecutive month, the report showed.
Last month’s sales rose 1.1 percent to NT$407.5 billion, but the pace of growth was slower than the previous month’s 7.2 percent and also missed the ministry’s estimate of 2.8 percent to 5.8 percent due to weaker purchasing of general merchandise and vehicles, as well as falling demand for clothes and consumer electronics, it said.
The ministry expects the retail sector’s growth momentum to persist this month thanks to strong consumer spending ahead of the Lunar New Year holiday, with sales estimated to grow 0.3 to 3.3 percent annually, it added.
As for the wholesale sector, sales last year totaled NT$11.77 trillion, the third-highest on record, but the number dropped 7.3 percent from a year earlier and marked the second-largest annual decrease ever, the report said.
As the sector’s sales last month were down 2.4 percent from a year earlier and its outlook is linked to external demand, with no signs of an immediate demand recovery for machinery equipment, building materials and chemical goods, the ministry expects sales this month to be lower than last month as it is a low season for consumer electronics, it said.
However, sales this month might be higher than a year earlier due to increasing demand for artificial intelligence applications and more working days, rising by 2.4 percent to 5.4 percent annually, the ministry said.
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