News Release: HAMILTON, Bermuda – Today, the Ministry of Economy and Labour released the December 2022 Retail Sales Index.
December’s retail sales volume decreased 1.7 percent compared to last year. In value terms, retail sales increased to an estimated $117.8 million.
Four of the seven sectors recorded volume decreases in December 2022.
The sales volume at Apparel Stores fell 17.5 percent and was 18.7 percent below the pre-pandemic sales of 2019.
The sales volume for Food Stores declined 7.2 percent, while Liquor Stores’ sales volume increased 1.5 percent. Compared to the pre-pandemic sales volume in 2019, Food Stores registered an 8.3 percent decrease, and sales for Liquor Stores were 13.2 percent higher.
In the All Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 7.0 percent decrease in sales volume. Sales for this sector registered 3.6 percent below the pre-pandemic sales volume for the same period of 2019.
Service Stations’ sales volume decreased 4.9 percent from last year and was 5.9 percent below the pre-pandemic sales in December 2019.
The following sectors experienced increases in sales volume compared to the previous year.
Motor Vehicle Stores’ sales volume increased 7.1 percent due to a higher inventory of automobiles available compared to the previous year. The sales level was 7.1 percent below the sales volume in December 2019 before the pandemic.
The sales volume for Building Material Stores increased 30.3 percent. The sales volume for this sector was 77.4 percent above the 2019 sales level.
Overseas declarations decreased 1.5 percent compared to December 2021 and were 35.4 percent higher than in the pre-pandemic period.
The public can review the December 2022 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.