Retail sales volume in Bermuda fell for the eighth month in the past nine in August, decreasing by 3.4 per cent year-over-year, according to figures released by the Ministry of Economy and Labour.

The decline was also the thirteenth such year-over-year drop in 15 months.

The August figure was determined after adjusting for the retail sales rate of inflation, which was measured at 3.9 per cent that month.

In value terms, retail sales increased to an estimated $100 million, which represented a 0.4 per cent rise in sales value year-to-year.

Six of the seven sectors recorded year-over-year volume index decreases in August 2023.

The sales volume for food stores fell 1.5 per cent, liquor stores’ sales volume decreased 1.9 per cent, and motor vehicle stores’ sales volume fell 20.2 per cent.

The sales volume for building material stores decreased 7.9 per cent, sales volume at apparel stores declined 4.3 per cent — and in the all other store types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 7.5 per cent decrease in sales volume.

Service stations’ sales volume increased 2.9 per cent year-over-year.

Selected overseas declarations decreased 19.2 per cent compared with August 2022.

Imports via courier decreased $5.8 million to $11.8 million. This decrease was attributed to the lower importations of printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans.

Imports by households via sea decreased $0.4 million to $7.4 million.

Declarations at the airport by returning residents increased $0.2 million to $6.1 million.

Imports via the Bermuda Post Office decreased $0.1 million to $0.4 million.

Excluding Sundays, there were 25 shopping days, two fewer than in August 2022.

• For the full August 2023 Retail Sales Index statement, see Related Media

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August 2023 RSI Report.pdf