Today, the Ministry of Economy and Labour released the April 2023 Retail Sales Index (attached).
April’s volume of retail sales index decreased 4.1 per cent compared to last year. In value terms, retail sales increased to an estimated $98.3 million.
Four of the seven sectors recorded year-over-year volume sales index decreases in April 2023 as follows:
1. The sales volume for Food Stores fell 7.8 per cent. The sales volume for this sector was 12.1 per cent below April 2019 pre-pandemic sales level.
2. The Liquor Stores’ sales volume fell 6.2 per cent and was 5.1 per cent lower than in April 2019.
3. The sales volume for Motor Vehicle Stores fell 31.9 per cent. Motor Vehicle sales volume decreased 10.3 per cent compared to April 2019.
4. The sales volume for Building Material Stores decreased 9.4 per cent. The sales volume for this sector was 26.5 per cent above the April 2019 sales volume level.
The following sectors experienced an increase in sales volume compared to the previous year:
5. Service Stations’ sales volume increased 1.1 per cent. The sales level was 9.0 per cent below the pre-pandemic sales volume of April 2019.
6. The sales volume at Apparel Stores rose 11.1 per cent and was 24.0 per cent below April 2019.
7. In the All Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 1.3 per cent increase in sales volume. The sales volume for this sector was 11.4 per cent below the index as of April 2019.
Selected overseas declarations increased 2.2 per cent compared to April 2022 and were 51.1 per cent higher when compared to April 2019.
The public can review the April 2023 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.