Indonesia’s Retail Sales Growth Hits Five-Year High

Indonesia’s Retail Sales Growth Hits Five-Year High

Central Park Mall, Jakarta. Shutterstock

Retail sales in Indonesia expanded for the first time in 17 months in April, rising 15.6 percent year-on-year, compared with a 14.6 percent fall a month earlier, according to a central bank survey released on Thursday.

The increase represents the highest growth since 2016 on a low base effect as sales were hit in April 2020 by coronavirus restrictions placed on retailers to stem the spread of infections in the country.

Bank Indonesia said rising purchases during Ramadan also boosted April’s numbers and predicted a 12.9 percent rise for retail sales in May.

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