Retail sales edge up in February
Retail sales volume in Bermuda increased by 0.6 per cent year-over-year in February, according to figures released today by the Ministry of Economy and Labour.
That figure was determined after adjusting for the retail sales rate of inflation, which was measured at 3.4 per cent in February.
In value terms, retail sales were an estimated $92.2 million.
Three of the seven sectors recorded year-over-year volume index increases in February.
Service stations’ sales volume increased 5 per cent.
The sales volume for food stores rose 2.8 per cent.
In the all-other-store-types sector — comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods — there was a 2.6 per cent increase in sales volume.
The sales volume for building material stores decreased by 0.1 per cent.
The sales volume for liquor stores fell 4.8 per cent.
The sales volume at apparel stores decreased 5.1 per cent.
The sales volume at motor vehicle stores decreased 17.5 per cent.
Selected overseas declarations increased by 14.3 per cent compared with February 2023.
Imports via courier increased $1.5 million to $13.1 million. This increase was partially attributed to the higher importations of pharmaceutical products and electrical machinery and mechanical appliances.
Imports by households via sea increased $1.2 million to $7.1 million.
Declarations at the airport by returning residents increased $0.3 million to $3.4 million.
Imports via the Bermuda Post Office remained the same at $0.4 million.
Excluding Sundays, there were 25 shopping days, one fewer than in February 2023.
• For more on the Retail Sales figures, see Relate Media
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