June 2022 RSI Report

16 September, 2022

Today, the Ministry of Economy and Labour released the June 2022 Retail Sales Index. 

June’s retail sales volume decreased 4.3 per cent compared to last year. In value terms, retail sales increased to an estimated $106.0 million or 0.4 per cent. 

Compared to the pre-pandemic period of June 2019, volume sales were lower by 1.3 per cent, with liquor stores the only sector experiencing year-over-year growth in June 2022. 

Sales volume at Liquor Stores increased by 0.8 per cent, while Food Stores’ sales volume decreased by 3.2 per cent, year-over-year.  Compared to 2019 pre-pandemic sales volume, Liquor Stores registered a 1.8 per cent increase while sales for Food Stores were 5.7 per cent lower.

 All other sectors experienced decreases in sales volume compared to the previous year.

Motor Vehicle Stores’ sales volume declined 40.7 per cent due to a decreased number of vehicles sold compared to the previous year. This sales level was 15.3 per cent below the sales volume in June 2019 before the pandemic. 

Building Material Stores’ sales volume fell 4.7 per cent. The sales volume for this sector was 22.8 per cent above the 2019 sales level.

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 decrease due to fewer sales of household goods. Sales for this sector registered 1.9 per cent below the pre-pandemic sales volume in June of 2019.

Service Stations’ sales volume decreased 0.9 per cent from last year and were 11.1 per cent below the pre-pandemic sales of 2019. 

Sales volume at Apparel Stores decreased 0.3 per cent due to the relaxation of travel restrictions, resulting in more travelers shopping overseas.  This sales volume was 20.7 per cent below the pre-pandemic sales of 2019.

Overseas declarations increased 7.8 per cent compared to June 2021 and were 64.5 per cent over the pre-pandemic period.

The public can review the June 2022 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.

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