Retail Sales Index – July 2023

September 25, 2023

On a year-on-year basis, retail sales rose 1.1% in July 2023, following the 1.0% increase in June 2023. Excluding motor vehicles, retail sales increased 0.4%, extending the 2.3% growth in June 2023. On a seasonally adjusted basis, retail sales rose 0.6% in July 2023 over the previous month, partly attributed to higher sales of motor vehicles. Excluding motor vehicles, seasonally adjusted retail sales decreased 1.1% compared to June 2023.

The estimated total retail sales value in July 2023 was $3.9 billion. Of this, an estimated 12.6% were from online retail sales, similar to June 2023. Excluding motor vehicles, the total retail sales value was about $3.5 billion, of which 14.2% were from online retail sales. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 49.8%, 30.5% and 12.8% of the total sales of their respective industry.

Click here to read more.