Macao’s value of retail sales fell 45.1 per cent year-on-year to MOP 11.2 billion (US$1.4 billion) in the first quarter, the Statistics and Census Bureau (DSEC) announced on Monday.
Macao’s economy has been hard hit by the novel coronavirus disease epidemic since late January.
According to a DSEC statement, the sales value of watches and jewellery fell 57.5 per cent, department store sales dropped 56.4 per cent and sales of adults’ clothing declined 52.9 per cent year-on-year. However, the value of supermarket sales rose 14.0 per cent.
The value of retail sales dropped 45.8 per cent quarter-on-quarter.
The sector’s sales volume index dropped 44.8 per cent in the first quarter.
Sales volume is the number of units sold within a reporting period.
According to a DSEC survey, 80.5 per cent of Macao’s retailers anticipated a year-on-year decrease in their sales volume in the current quarter, while 52.9 per cent expected “sluggish” business in the March-May period.