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Retail sales fall 30.6% in April

Bermuda’s retail sales dropped by 30.6 per cent in April, after being impacted by the shelter-in-place measures put in place to curb the spread of Covid-19.

Wayne Furbert, Minister for the Cabinet Office, said: “After adjusting for the retail sales rate of inflation, measured at 0.8 per cent in April, the overall volume of retail sales decreased 30.6 per cent when compared to April 2019.

“Retail sales activity in April 2020 was affected by coronavirus (Covid-19) restrictions such as the shelter-in-place order, curfew hours and mandatory closure of some retail establishments with the exception of permitted businesses like food stores, pharmacies and service stations.”

Mr Furbert thanked respondents to the retail sales survey for their continued support in providing data needed to measure the impact of the pandemic on retail activity in Bermuda.

Sales volume of liquor stores rose 39.1 per cent year-on-year, and food stores saw sales volume improve 17.5 per cent.

But motor vehicle stores suffered a 99 per cent drop in sales, while apparel stores sales volume was down 97.1 per cent, and building material stores’ sales decreased 82.3 per cent.

Service stations saw sales volume trimmed by 59.3 per cent, while all other store types had sales down by 59.2 per cent.

The Retail Sales Index for April was released by the Department of Statistics.