The volume of retail sales during the month of August 2023 decreased 3.4 percent when compared to the same month the year before.

In value terms, retail sales increased to an estimated $100.0 million, which represented a 0.4 per cent rise in sales value year-to-year.

According to the August 2023 Retail Sales Index publication released today by the Ministry of Economy and Labour, six of the seven sectors recorded year-over-year volume index decreases: 

  • The sales volume for Food Stores fell 1.5 percent.
  • The Liquor Stores’ sales volume fell 1.9 percent.
  • Motor Vehicle Stores’ sales volume fell 20.2 percent.
  • The sales volume for Building Material Stores decreased 7.9 percent.
  • The sales volume at Apparel Stores declined 4.3 percent.
  • In the All Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 7.5 percent decrease in sales volume.

The following sector had an increase in sales volume compared to the previous year:

  • Service Stations’ sales volume increased 2.9 percent.

Selected overseas declarations decreased 19.2 percent compared to August 2022.

The public can review the August 2023 Retail Sales Index report in full at https://www.gov.bm/retail-sales-index-rsi.