Taiwan’s Ministry of Economic Affairs revealed August revenue performance for wholesale, catering, and retail industry.
SEE ALSO : How did Taiwan’s retail industry do in July?
The revenues for retail and catering sector in August are reported to be higher than the same period last year, reflecting a strong local consumption power, as people have to stay in the country due to border control. The wholesale industry also performed well, with high sales performance for electronics, which pushed up August’s turnover to the second highest compare to the same period in the past years.
Huang Weijie, Deputy Director of the Statistics Department, predicts that the annual revenue performance for wholesale and retail industry can be expected to grow; while the catering industry is not doing well due to the poor performance of transport catering. The revenue performance for the catering industry in the first three quarters is estimated to decrease annually by 6.1% to 5.9%. The negative growth in the catering industry is expected and it is the first decline in 19 years.
The revenue of the wholesale industry in August was US$30 billion, an annual increase of 0.1%. The sales for electronics increased by 2.8%, which accounted for 40% of the machinery and appliance wholesale industry; however, the production of new mobile phone products were delayed, which offset part of the increase.
SEE ALSO : Don Don Donki to open first store in Taiwan
The Census and Statistics Department predicts that the wholesale industry will decrease by 2% annually to an annual increase of 1% in September.