Retail sales in Taiwan increased 4.54 percent year-on-year in August of 2019, easing from an upwardly revised 6.73 percent gain in the previous month. Sales slowed for household appliances & goods (3.75 percent vs 5.24 percent in July); cultural & recreation goods (4.27 percent vs 8.21 percent); information and communications equipment & electrical household appliances (2.91 percent vs 4.95 percent) and motor vehicles & motorcycles (3.51 percent vs 18.89 percent). On the other hand, sales rose faster for food, beverages & tobacco (6.99 percent vs 3.98 percent); textiles & clothing (5.11 percent vs 2.69 percent); pharmaceutical & medical goods (5.82 percent vs 5.25 percent); building materials (0.62 percent vs 0.19 percent) while fuel products sales dropped at a softer pace (-5.72 percent vs -6.99 percent). On a monthly basis, retail sales fell 5.56 percent, after a 0.50 percent rise in July. Retail Sales YoY in Taiwan averaged 2.53 percent from 2000 until 2019, reaching an all time high of 21.94 percent in January of 2011 and a record low of -11.89 percent in February of 2009.
Retail Sales YoY in Taiwan is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Taiwan to stand at 2.50 in 12 months time. In the long-term, the Taiwan Retail Sales YoY is projected to trend around 2.00 percent in 2020, according to our econometric models.