South Africa’s retail trade shrank by 0.8% from a year earlier in January 2023, following a downwardly revised 0.5% decrease in the previous month and compared with market estimates of a 2% slump. It was the second consecutive month of declines in retail activity, mostly due to lower sales of food, beverages and tobacco (-7.3% vs -1.8% in December); hardware, paint and glass (-4.8% vs -5.5%); pharmaceuticals and medical goods, cosmetics and toiletries (-2% vs -4.8%). On a monthly basis, retail trade rose by 1.5% in January, the most in a year, after a downwardly revised 0.5% fall in the prior month. source: Statistics South Africa
Retail Sales YoY in South Africa averaged 3.91 percent from 2003 until 2023, reaching an all time high of 95.10 percent in April of 2021 and a record low of -49.90 percent in April of 2020. This page provides - South Africa Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.
Retail Sales YoY in South Africa is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Retail Sales YoY is projected to trend around 2.00 percent in 2024 and 1.60 percent in 2025, according to our econometric models.