Retail Sales Index – August 2023

October 6, 2023

On a year-on-year basis, retail sales increased 4.0% in August 2023, continuing the 1.3% growth in July 2023. Excluding motor vehicles, retail sales rose 3.7%, extending the 0.6% growth in July 2023. On a seasonally adjusted basis, retail sales rose 1.7% in August 2023 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales increased 1.9% compared to July 2023.

The estimated total retail sales value in August 2023 was $4.0 billion. Of this, an estimated 12.2% were from online retail sales, compared to the 12.6% recorded in July 2023. Excluding motor vehicles, the total retail sales value was about $3.5 billion, of which 13.8% were from online retail sales. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 49.0%, 31.1% and 12.4% of the total sales of their respective industry.

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