Retail sales in Taiwan increased 2.97 percent year-on-year in May of 2019, easing from a 4.45 percent gain in the previous month. Sales slowed for food, beverages & tobacco (0.55 percent vs 1.77 percent in April); household supply (1.77 percent vs 8.34 percent) and pharmaceutical & medical goods (2.11 percent vs 3.64 percent) while those declined for building material (-6.94 percent vs -0.75 percent); fuel products (-0.68 percent vs 3.37 percent) and information and communications equipment & electrical household appliances (-8.87 percent vs 1.8 percent). On the other hand, sales rose faster for textiles & clothes (2.92 percent vs 2.37 percent); cultural & recreation goods (8.93 percent vs 2.57 percent) and motor vehicles & motorcycles (6.93 percent vs 6.62 percent). On a monthly basis, retail sales went up 3.24 percent, following a 2.95 percent rise in April. Retail Sales YoY in Taiwan averaged 2.69 percent from 2010 until 2019, reaching an all time high of 22.90 percent in January of 2011 and a record low of -9.38 percent in February of 2019.
Retail Sales YoY in Taiwan is expected to be 1.90 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 3.60 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.