Retail Sales Index – March 2023

April 24, 2023

On a year-on-year basis, retail sales increased 4.5% in March 2023, following the 12.6% increase in February 2023. Excluding motor vehicles, retail sales grew by 4.1%, following the 11.6% increase in February 2023. On a seasonally adjusted basis, retail sales increased 2.2% in March 2023 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales increased 2.4% compared to February 2023.

The estimated total retail sales value in March 2023 was $4.1 billion. Of this, online retail sales made up an estimated 13.0%, higher than the 12.4% recorded in February 2023. Excluding motor vehicles, the total retail sales value was about $3.5 billion, of which 15.2% came from online retail sales. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 48.3%, 33.3% and 13.6% of the total sales of their respective industry. Click here to read more.