Bermuda Retail Sales Slide continues

Bermuda Retail Sales
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Bermuda Retail Sales Slide continues

Figures delivered for November by the Bermuda Department of Statistics revealed the enduring slide for retail sales, with the index continuing to go in the wrong direction.

Read Bermuda Retail Sales Show Worrying Trend

The Ministry of Economy and Labour released the November 2021 Retail Sales Index, showing that November’s retail sales fell 8.6 per cent compared to the same month in 2020.

In value terms, retail sales fell 4.7 per cent, which represents an estimated $96.8 million compared to November 2020.

A government statement highlighted an area of positive retail sales activity, Motor Vehicle Stores, which grew by 15.2 per cent spurred by an increase in the number of cars sold.

Also during November 2021, overseas declarations increased 10.0 per cent compared to November 2020. The rise in overseas declarations was influenced mostly by higher imports by households via sea, related to clothing and accessories.

There were some declines in various sectors.

Service Stations’ sales fell 4.0 per cent despite an increased in vehicular traffic compared to the previous year.

Sales at Apparel Stores decreased 5.4 per cent as more residents travelled and purchased clothing overseas.

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In the All Other Store Types sector (comprising of stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 10.3 per cent decrease due to lower sales of furniture, appliances and boating supplies, as well as sales at pharmacies.

Slide continues for retail sales  Royal Gazette


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Dean Nestor

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