April 2023 Retail Sales Index Down But Retail Sales Increased To An Estimated $98.3 Million

News Release HAMILTON, Bermuda Today, the Ministry of Economy and Labour released the April 2023 Retail Sales Index.

April’s volume of retail sales index decreased 4.1 percent 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 percent.  The sales volume for this sector was 12.1 percent below April 2019 pre-pandemic sales level.

2. The Liquor Stores’ sales volume fell 6.2 per cent and was 5.1 percent lower than in April 2019.

3. The sales volume for Motor Vehicle Stores fell 31.9 percent. Motor Vehicle sales volume decreased 10.3 percent compared to April 2019.

4. The sales volume for Building Material Stores decreased 9.4 percent.  The sales volume for this sector was 26.5 percent 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 percent. The sales level was 9.0 percent below the pre-pandemic sales volume of April 2019.

6. The sales volume at Apparel Stores rose 11.1 percent and was 24.0 percent 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 percent increase in sales volume. The sales volume for this sector was 11.4 percent below the index as of April 2019.

Selected overseas declarations increased 2.2 percent compared to April 2022 and were 51.1 percent 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.