The total gross surplus of the wholesale and retail trade industry plunged 22.3 per cent year-on-year to MOP10.83 billion (US$1.4 billion) for the whole of 2015 due to ‘the impact of local economic adjustment,’ says the Statistics and Census Service (DSEC).
The Bureau’s latest official data, released yesterday, shows that the industry’s total receipts dropped 5.6 per cent year-on-year to MOP108.7 billion. In addition, its gross value added – which measures the industry’s contribution to the local economy – dived by 10.7 per cent year-on-year to MOP19.3 billion.
However, the industry’s gross fixed capital formation – which measures the net increase in fixed capital and is a component of gross domestic product (GDP) – surged 125.1 per cent year-on-year to MOP3.02 billion due to the acquisition of real estate by a number of retail establishments.
Analysed by industry, a total of 6,484 retail establishments were operating in the MSAR as at the end of last year, a decrease of 13 establishments year-on-year. The total gross surplus of the sector plummeted 30.8 per cent year-on-year to MOP7.07 billion, while gross value added went down by 16.9 per cent year-on-year to MOP12.5 billion, yet gross fixed capital formation nearly tripled in value to MOP3.23 billion upon the acquisition of real estate.
The retail segment experienced a decrease of 4.4 per cent year-on-year in its total receipts, which amounted to MOP65.9 billion for the year.
In particular, due to a decline in visitor spending, receipts from the sales of watches, clocks & jewellery goods (MOP14.6 billion), department stores (MOP9.5 billion), and leather articles (MOP6.1 billion) recorded two-digit decreases, down 20.8 per cent, 17.3 per cent and 27.6 per cent year-on-year, respectively.
Nevertheless, receipts from retail sales of adult clothing grew 19.7 per cent year-on-year to MOP8.6 billion, whilst those from household appliances surged 63.4 per cent year-on-year to MOP5.6 billion.
In terms of sales of motor vehicles and automotive fuel, DSEC said that the 985 establishments in the sector had generated a total of MOP534 million in gross surplus, up 5.5 per cent year-on-year. The growth is due mainly to the segment derived from maintenance and the repair of vehicles soaring 88.3 per cent to MOP90 million.
However, due to a slowdown in domestic demand, receipts from sales of motor vehicles fell 13.9 per cent year-on-year to MOP4.02 billion whilst those from retail sales of automotive fuel dropped 12.1 per cent year-on-year to MOP1.32 billion as a result of the decline in fuel prices.
Wholesale
Meanwhile, establishments engaged in the wholesale business reported a gross surplus of MOP2.94 billion for the whole year of 2015, down 0.4 per cent year-on-year, while gross value added of the segment increased 3.3 per cent year-on-year to MOP5.39 billion.
According to DSEC, some 4,910 establishments were operating in the field, down 55 year-on-year. Total receipts from the industry fell 7.5 per cent year-on-year to MOP34.3 billion due to those from wholesale fuels (MOP4.2 billion) and those of machinery, equipment & supplies (MOP5.3 billion) plunging 36.5 per cent and 17.1 per cent, respectively.
However, receipts earned from the wholesale of food recorded a year-on-year growth of 10 per cent, amounting to MOP12.6 billion.
For the whole of 2015, some 63,472 individuals were engaged in the wholesale & retail trade industry, including those on market stalls and fixed stalls on the street. Of the total, employees accounted for nearly 82 per cent, at 51,902.
