Taiwan’s Business Turnover Reaches NT$1.2 Trillion in August

Taiwan’s business turnover reached NT$1.2064 trillion (US$40.21 billion) in August for the highest August record and annual growth of 2.2%, according to statistics released by Taiwan's Ministry of Economic Affairs (MOEA).

August retail sales amounted to NT$330.8 billion (US$11.03 billion), also the highest of its kind for the month. Of which, general merchandise sales accounted for NT$95.2 billion (US$3.17 billion), up 3.6% year-on-year, with sales in department stores up 5.1%, partly due to Father’s Day and Moon Festival being in the month.

August sales of 3C and related products grew slightly 1.2% to NT$839.1 billion (US$27.97 billion), with sales of the food and beverage sector being NT$36.5 billion (US$1.22 billion), up 4.9% year-on-year. Of which, the beverage sector scored revenues of NT$4.1 billion (US$136.67 million), hitting the monthly highest and a 6% YoY rise.

Taiwan’s bakery, pastry and food industries were shaken by the tainted oil scandal in early September, with sales at high-profile pastry retailers halted as well as negative cash-flow seen due to refunds, and ripple effect likely to continue in the following months. (JL)