Retail sales in Indonesia drop dramatically
By Mei Ling Tan
1 min read
Retail sales in Indonesia have fallen by 16.9 percent during the month of April compared to last year, according to government data.
The drop is the steepest within the territory in 14 years and is the result of a steady decline in retail sales of a range of products surveyed by the Indonesian central bank.
The decline is 4.5-per-cent deeper than comparable figures for the previous month, while retail sales in Indonesia declined by a more modest 0.8 percent during February.
Even worse figures are expected for May, however, as the advent of Covid-19 saw people forced to implement social distancing.
The Bank Indonesia now predicts sales figures to show a heavy 22.9-per-cent fall in volume year on year for last month.