Retail Sales Index – December 2023

December 22, 2023

On a year-on-year basis, retail sales declined 0.4% in December 2023, compared to the 2.4% growth in November 2023.
Excluding motor vehicles, retail sales fell 2.7%, compared to the 1.3% growth in November 2023. On a seasonally adjusted basis,
retail sales decreased 1.5% in December 2023 over the previous month. Excluding motor vehicles, seasonally adjusted retail
sales decreased 3.0% compared to November 2023.

The estimated total retail sales value in December 2023 was $4.7 billion. Of this, an estimated 13.1% were from online retail
sales, lower than the 15.3% recorded in November 2023 when there were major online shopping events. Excluding motor
vehicles, the total retail sales value was about $4.2 billion, of which 14.8% were from online retail sales. Online retail sales made
up 49.2%, 31.0% and 12.1% of the total sales of the Computer & Telecommunications Equipment, Furniture & Household
Equipment and Supermarkets & Hypermarkets industries respectively.

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