Retail Sales Index – September 2023

November 4, 2023

On a year-on-year basis, retail sales increased 0.6% in September 2023, following the 4.2% growth in August 2023. Excluding motor vehicles, retail sales rose 0.5%, extending the 4.0% growth in August 2023. On a seasonally adjusted basis, retail sales dropped 1.6% in September 2023 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales decreased 0.8% compared to August 2023.

The estimated total retail sales value in September 2023 was $3.9 billion. Of this, an estimated 13.5% were from online retail sales, higher than the 12.2% recorded in August 2023. Excluding motor vehicles, the total retail sales value was about $3.4 billion, of which 15.2% were from online retail sales. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 49.0%, 32.8% and 12.9% of the total sales of their respective industry.

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