Indonesia’s Retail Sales Performance Grows 12.9 Percent in Early 2022

retail sales

Indonesia’s retail sales growth continued to grow positively every month. This is reported directly by Bank Indonesia or BI.

This is reflected in the Real Sales Index (IPR) which was recorded at 200.0 in February 2022, down 4.5 percent (month-to-month/mtm). Meanwhile, on an annual basis, IPR grew 12.9 percent YoY.

“The groups that recorded high growth included food, beverages, and tobacco at 21.3 percent YoY, and motor vehicle fuels at 55.1 percent YoY,” BI wrote in the Retail Sales Survey, Monday (11/4/2022).

The groups that recorded a decline on an annual basis were the spare parts and accessories group by -5.3 percent YoY, and other household appliances at -22.8 percent YoY.

The decline in monthly sales occurred in the majority of groups, especially spare parts and accessories, cultural and recreational goods, and motor vehicle fuels, with decreases of -10.6 percent mtm, -5.2 percent mtm, and -2, respectively. ,4 percent mtm.

The decline was influenced by lower public demand, more limited supply, and unfavorable weather conditions.

Furthermore, spatially, retail sales in several cities surveyed continued to grow on an annual basis, including Medan at 13.2 percent YoY, followed by Denpasar at 3.0 percent YoY, and Banjarmasin at 2.2 percent you.

Meanwhile, every month, retail sales are estimated to contract in several cities, namely Semarang (including Purwokerto) by -7.9 percent mtm, Makassar at -7.1 percent mtm, and Surabaya at -5.9 percent mtm.

Furthermore, Bank Indonesia (BI) estimates that retail sales performance in March 2022 will continue to grow positively, although at a slower rate compared to the previous month period.

“On an annual basis, retail sales in March 2022 are estimated to continue to grow, which is 8.6 percent year-on-year (YoY), or lower than 12.9 percent YoY in February 2022,” said Head of the BI Communications Department Erwin Haryono in a press release, Monday (11/4/2022).

The groups that recorded high growth in March 2022 included motor vehicle fuels, as well as food, beverages, and tobacco.

Meanwhile, monthly sales performance in March 2022 is estimated to grow 2.0 percent (month-to-month/mtm), higher than -4.5 percent mtm in the previous month.

The increase occurred in most groups, especially clothing, spare parts and accessories, cultural and recreational goods as well as food, beverages, and tobacco.

This development is also in line with the increasing public demand during the easing of PPKM, the sloping Covid-19 case, and the start of preparations for the month of Ramadan.