Indonesia Retail January 2021


Indonesia: Retail sales improve in January; deterioration expected for February

March 9, 2021

Retail sales plunged 16.3% in January (December: -19.1% yoy). The drop was largely driven by falling sales of automotive fuel, other household equipment and clothing.

Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 13.2%, down from December's minus 11.9%.

The Central Bank expects retail sales to have contracted a sharper 16.5% in February.

FocusEconomics Consensus Forecast participants see private consumption rising 4.7% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, panelists see private consumption increasing 5.3%.

Author: Massimo Bassetti, Senior Economist

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Indonesia Retail Chart

Indonesia Retail January 2021

Note: Year-on-year and annual average variation in retail sales in %.
Source: Bank Indonesia (BI) and FocusEconomics calculations.

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