Indonesia Retail February 2021


Indonesia: Retail sales worsen in February; improvement expected for March

April 13, 2021

Retail sales plunged 18.2% in February (January: -16.3% yoy). The sharper drop was largely driven by falling sales of food, beverages and tobacco.

Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 14.7%, down from January's minus 13.2%.

The Central Bank expects retail sales to have contracted a softer 17.1% in March.

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 February 2021

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

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