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Macau retail sales surge after lockdown lull

FILE PHOTO: People wear masks as they walk near Ruins of St. Paul’s, following the coronavirus outbreak in Macau, China February 5, 2020. REUTERS/Tyrone Siu

Macau retail sales doubled in value during the second quarter this year compared to the same period last year, according to the Statistics and Census Service (DSEC). 

The territory’s retail sales were estimated at US$2.58 billion in the second quarter, increasing 10.3 per cent quarter-on-quarter (QOQ). Meanwhile, retail sales in the first half of this year surged 118.4 per cent year-on-year. 

The growth reflects the recovery of the industry as Macau went under an almost complete lockdown and travel restrictions during the same period last year. 

Sales value of watches, clocks & jewellery accounted for the highest year-on-year increase, valued at US$622 million during the second quarter. Other growing sectors during this period include leather goods (13 per cent QOQ), department stores (26.8 per cent QOQ), and cosmetics & sanitary (7.6 per cent QOQ). 

Meanwhile, sales of communication equipment, supermarkets and pharmacies dropped 23.5 per cent, 6 per cent and 5.4 per cent QOQ respectively. 

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