Philippine retail sales soared 6.3 per cent in the last quarter of 2015 – more than three times faster than the same period a year earlier.

According to data from the Philippine Statistics Authority, the retail trade growth was more than three times the rate of the same period of 2014, when sales rose 1.9 per cent.

Thus, the retail sector has significantly contributed to the growth of overall trade in the country.

Wholesale trade also accelerated to 9.0 per cent compared with the 8.9 per cent growth a year ago.

The industry group that includes wholesale and retail trade accelerated to 7.0 per cent growth in the fourth quarter of 2015 from the 3.4 per cent posted in 2014.