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Overall retail sales down, latest figures show

Twenty per cent jump: the sales of motor vehicles increased 21.6 per cent year-on-year in October 2023 (File photograph)

Sales of motor vehicles on the island rose by 21.6 per last October compared with the same month in 2022, according to the latest figures released by the Government.

A Department of Statistics bulletin said the retail sales value in the sector also increased by 23 per cent year-on-year.

Despite these increases, the overall volume of retail sales decreased 4.6 per cent when October 2023 was compared with the same month in 2022.

The value of sales during the month was $101.2 million, a 1.3 per cent drop from the previous year.

Clothing stores recorded a 9.7 per cent drop in sales volume and a 9.5 per cent decrease in sales value.

Sales of alcohol decreased 8.7 per cent in volume and 4.6 per cent in value, while the volume and value for service stations both dropped by 3.3 per cent.

The building sector also experienced a reduction in sales volume and value, which decreased 7.8 per cent and 6.6 per cent respectively.

Sales volume for food stores decreased 4.8 per cent, but sales value rose 1.1 per cent. This was partially due to a 4.9 per cent increase in the cost of food.

Sales volume for all other stores decreased 10.1 per cent and the value dropped 6.9 per cent.

Gross receipts from furniture sales increased 10.1 per cent and sales for pharmaceuticals rose 1.8 per cent.

Sales for electronics and appliances fell 16.7 per cent, sales of boat and marine supplies decreased 15.4 per cent and sales of miscellaneous goods dropped 9.6 per cent.

The amount of declarations from overseas decreased 17 per cent and imports via courier fell $7.5 million to $13.5 million, compared to October 2022.

Household imports via sea fell $300,000 to $8.4 million, but declarations at the airport by returning residents increased $2.1 million to $4.9 million.

Imports via the Bermuda Post Office increased $100,000 to $500,000.

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Published April 06, 2024 at 7:54 am (Updated April 06, 2024 at 7:54 am)

Overall retail sales down, latest figures show

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