The Strategist

Retail sales in China decline in January-April

05/16/2022 - 09:18

Consumer goods retail sales in China declined 0.2 percent year on year to 13.81 trillion yuan ($2.03 trillion) in January-April, according to figures released by the country's national statistics bureau on Monday. Online retail sales grew 3.3 percent.

David Boté Estrada via flickr
David Boté Estrada via flickr
In the period under review, urban retail sales declined 0.3 percent year on year to 11.99 trillion yuan ($1.76 trillion). Sales in the countryside increased by 0.4 percent to 1.82 trillion yuan ($268.2 billion).

Consumer goods retail sales declined 11.1 percent in April compared to April 2021, to 2.95 trillion yuan ($434.18 billion).

Online retail sales grew 3.3 percent to 3.87 trillion yuan ($569.8 billion) from January to April, with physical goods sales up 5.2 percent to 3.28 trillion yuan ($484.3 billion).

Catering revenues declined 5.1 percent year on year to 1.32 trillion yuan ($195.3 billion), with the year-on-year figure falling 22.7 percent to 260.9 billion yuan ($38.4 billion) in April due to the ongoing Shanghai quarantine.

Last year, China's retail sales increased by 12.4% to 44.082 trillion yuan ($6.93 trillion). The value of online retail sales increased by 12% to 10.804 trillion yuan ($1.7 trillion).