Retail sales volume in Bermuda increased by 1.4 per cent year-over-year in October, according to Retail Sales Index 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 2.1 per cent in October.

In value terms, retail sales increased to an estimated $104.1 million, which represented a 3.4 per cent growth in sales value year-to-year.

Four of the seven sectors recorded a year-over-year volume index increase in October 2024:

• The food stores’ sales volume grew 3.8 per cent.

• Service stations’ sales volume increased 2.3 per cent.

• The sales volume for building material stores increased 13.4 per cent.

• The sales volume at apparel stores increased 3.9 per cent.

The following sectors had a decrease in sales volume compared with the previous year:

• The liquor stores’ sales volume fell 2.5 per cent.

• The sales volume for motor vehicle stores decreased 1.1 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 1.9 per cent decline in sales volume.

Selected overseas declarations increased 11.4 per cent compared with October 2023.

Imports via courier increased $2.5 million to $16 million. This increase was attributed to the higher importations of articles of apparel and accessories, electrical machinery and equipment.

Imports by households via sea increased $0.2 million to $8.6 million.

Declarations at the airport by returning residents increased $0.3 million to $5.2 million.

Imports via the Bermuda Post Office increased $0.1 million to $0.6 million.

Excluding Sundays, there were 27 shopping days, one more than in October 2023.

• For the full report, see Related Media

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October 2024 RSI Report.pdf