Business

Charts: Retail Trends in China Q3 2023

Total retail sales of consumer goods in China amounted to 3.676 trillion yuan ($503 billion) in July 2023, marking a 2.5% year-over-year increase. That’s according to the country’s National Bureau of Statistics, a government agency.

The agency defines “total retail sales of consumer goods” as “the amount of physical goods sold by enterprises (units and individual households) to individuals and social groups for non-production and non-business purposes, as well as the amount of income obtained from providing catering services.”

According to the Bureau, retail sales in China decreased by 0.02% in July 2023 over the previous month and increased by 2.5% from a year earlier.

In July 2023, China’s total retail sales (online and offline) in the grain, oil, and food category increased by 5.5% compared to July 2022, while gold, silver, and jewelry saw a 10.0% decrease year-on-year.

Adel Boukarroum
Adel Boukarroum
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