Indonesia Retail March 2021


Indonesia: Retail sales improve in March; further improvement expected for April

May 11, 2021

Retail sales fell 14.6% in March (February: -18.2% yoy). The softer drop was largely driven by stronger sales of fuel.

Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 15.5%, down from February 's minus 14.6%.

The Central Bank expects retail sales to have contracted a softer 9.8% in April.

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 March 2021

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

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