Macau: Retail industry sales for the fourth quarter of 2025 rose by 4.2% year-on-year to 19.21 billion Macau patacas.

According to data from the Statistics and Census Service of Macau, retail sales in the fourth quarter of 2025 increased by 4.2% year-on-year to 19.21 billion Macau patacas, an increase of 14.6% from the third quarter (16.76 billion Macau patacas, revised figure). The total retail sales for the year 2025 amounted to 69.58 billion Macau patacas, a decrease of 3.2% compared to 2024. In the fourth quarter of 2025, retail sales increased by 4.2% year-on-year, with sales of communication equipment and watches and jewelry increasing by 46.1% and 29.9% respectively, while supermarkets, department stores, and leather goods decreased by 9.0%, 7.2%, and 6.3% respectively. The seasonally adjusted merchandise sales volume index dropped slightly by 0.1% in the fourth quarter, with supermarkets (-9.7%), automobiles (-8.8%), and pharmacies (-8.5%) recording year-on-year declines, while communication equipment (+43.9%) and cosmetics and personal care products (+12.1%) increased. According to a survey of retail merchants, 47.2% of merchants expect a decrease in sales volume in the first quarter of 2026 compared to the same quarter last year, with 44.0% expecting similar sales volume, and 8.8% expecting an increase. Additionally, 75.3% of merchants predict that prices will remain at the same level as in the first quarter of 2025, while 19.6% expect prices to decrease and 5.1% expect an increase. In comparison to the fourth quarter of 2025, about 49.5% of merchants predict a weaker operating performance in the first quarter of 2026, 34.4% expect stable performance, and 16.1% believe it will be ideal. Compared to 2024, total retail sales for the year 2025 decreased by 3.2%, with leather goods and department store sales decreasing by 11.0% and 5.6% respectively, while communication equipment increased by 11.4%. The annual merchandise sales volume index declined by 5.9% year-on-year, with significant declines in watches and jewelry (-15.2%), automobiles (-9.5%), and leather goods (-8.4%), while communication equipment (+10.8%) showed an increase.