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Results of retail sales survey for 4th quarter of 2022


Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the fourth quarter of 2022 totalled MOP14.80 billion, down by 20.6% year-on-year. After removing the effect of price changes, the sales volume index dropped by 21.8% year-on-year.

Among the major retail trade activities, sales values of Department Stores (-34.7%), Watches, Clocks & Jewellery (-28.5%) and Adults’ Clothing (-26.2%) registered a year-on-year decrease, whereas sales values of Automotive Fuels (+8.2%) and Pharmacies (+4.0%) increased. In terms of volume of retail sales, sales volume indices of Department Stores (-35.2%), Watches, Clocks & Jewellery (-29.2%) and Adults’ Clothing (-28.1%) recorded a significant year-on-year decline, while the index of Pharmacies (+3.7%) rose.

Value of retail sales in the fourth quarter of 2022 grew by 32.0% as compared with the revised figure (MOP11.21 billion) in the third quarter. Sales value of Communication Equipment soared by 109.0% from the previous quarter, and sales values of Adults’ Clothing (+67.1%), Leather Goods (+57.8%) and Department Stores (+43.0%) showed marked increases; by contrast, the sales value of Supermarkets (-8.0%) dropped. Meanwhile, the volume index of retail sales went up by 35.6% quarter-to-quarter, with the indices of Communication Equipment (+110.1%), Adults’ Clothing (+61.5%), Leather Goods (+57.9%) and Department Stores (+41.0%) recording notable growth; yet, the index of Supermarkets dipped by 8.3%.

For the whole year of 2022, total value of retail sales decreased by 22.1% year-on-year to MOP57.71 billion. Among the major retail trade activities, sales values of Department Stores, Adults’ Clothing and Watches, Clocks & Jewellery declined by 36.9%, 31.7% and 29.7% year-on-year respectively. In 2022, the average sales volume index fell by 22.0% year-on-year; the sales volume indices of Department Stores (-37.0%), Adults’ Clothing (-33.0%) and Watches, Clocks & Jewellery (-29.1%) registered noticeable drop.

In respect of retailers’ comments, 42.7% of the retailers expected the sales volume to stay stable year-on-year in the first quarter of 2023, while 34.4% anticipated a year-on-year increase and 22.9% forecasted a decrease. Meanwhile, 70.4% of the retailers predicted that the retail prices would remain steady year-on-year in the first quarter, 17.9% foresaw a decrease and 11.7% expected an increase. As compared with the fourth quarter of 2022, about 40.3% of the retailers anticipated a favourable outlook in the first quarter of 2023, 34.0% expected stable performance and 25.7% envisaged sluggish business.



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