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September 25, 2022

TAILWINDS: If border controls are relaxed as planned next month, sales at firms catering to airlines would boost the entire industry, an official said

Sales of the food and beverage sector increased 43.6 percent year-on-year last month to NT$78.6 billion (US$2.48 billion), the second-highest monthly level, trailing only NT$82.80 billion in January 2020, the Ministry of Economic Affairs reported on Friday. .

On a monthly basis, sales rose 3.7 percent, he said.

Statistics Department Deputy Director-General Huang Wei-jie (黃偉傑) said that as concerns about CCIDID-19 are easing, restaurants and beverage vendors have an increase in business due to Father’s Day in Aug. 8 and summer vacation.&# xD;

The high year-on-year growth in sales also showed a decrease compared to the same period last year, when the level 3 COVID-19 warning restricted the movement of people during the main outbreak of the disease, Huang said.&#xD ;

Last month, restaurants posted NT$65.9 billion in sales, up 43.6 percent from last year and showing the fourth consecutive month of annual growth, the ministry said.

Beverage sales increased 43.8 percent to a record high of NT$10.5 billion, while food service sales rose 42.4 percent to NT$2.3 billion, he said.

Huang said the local food and beverage sector rose from the weak spot from May, when sales increased 14.71 percent, and the momentum continued in the past month.

Sales of the unit increased 61.67 percent in June and rose 75.8 percent in July, he added.

In the first eight months of the year, the division’s sales rose 20.6 percent from last year to NT$ 553.5 billion.

Huang said that if border controls are eased on October 13 as planned, investment activities in the airline industry are expected to grow significantly and expand the entire food sector.

Meanwhile, retail sales increased 12.0 percent to NT$358.2 billion last month due to increased sales of luxury cars and promotional campaigns by dealers, Huang said.

Sales generated by department store chains and convenience stores increased by 30.2 percent and 17.0 percent respectively, to NT$30.4 billion and NT$33.8 billion, while the revenue generated by supermarkets and hypermarkets decreased by 1.2 percent and 6.6 percent respectively at the highest level for the same period. last year to NT$23.4 billion and NT$22.0 billion, the ministry said.

Sales by car and motorcycle dealers rose 11.4 percent to NT$56.4 billion, it said.

In the first eight months of the year, retail sales rose 8.7 percent to NT$2.76 trillion, the ministry said.

In the wholesale sector, revenue last month rose 0.6 percent from a year earlier to NT$1.03 trillion, he said.

The soft growth reflected a restructuring of the supply chain among chemical suppliers and a decrease in demand for machinery, which offset high seasonal sales for smartphone vendors and other technology vendors, the ministry said.

As the world’s economy continues to be affected by political instability, inflation and China’s “zero COVID-19” policy, Taiwan is expected to rely on domestic consumption in the second half of this year as exports are affected by the global slowdown, Huang said. .

This month, the revenue of the food and beverage sector is expected to be NT$73.9 billion to NT$75.7 billion, up 28.4 to 31.4 percent from last year, and the sales of the retail sector is expected to be NT$352.3 billion to NT$362.2 billion, up 7.5 billion. to 10.5 percent, while the wholesale sector is expected to be inactive and see sales growth of minus-2.2 percent to 0.8 percent annually to between NT$1.06 trillion and NT$1.09 trillion, Huang said.

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