Retail sales performance in second quarter of 2022 showed a year-on-year decrease of 4.1 per cent with an estimated value decreased from 488.2 million dollars to 468.3 million dollars. In terms of volume, the retail sales also recorded a negative growth of 6.8 per cent year-on-year. The Department of Economic Planning and Statistics in its press release stated that in terms of volume, the retail sales also recorded a negative growth of 6.8 per cent year-on-year.
The decline in retail sales was mainly caused by a drop in sales of Textiles, Wearing Apparel and Footwear; followed by Electrical Household Appliances and Lighting Equipment; sales at Petrol Station; and sales in Department Store. This was due to lack of domestic demand in line with the easing of cross-border travel restrictions and online learning and teaching.
Meanwhile, food and beverage services increased by point 2 per cent compared to the same period last year. However, in terms of volume, food and beverages activity recorded a negative growth of 1.1 per cent year-on-year. The rise in food and beverage sales revenue was mainly attributed by the increasing sales revenue of Other Food Service Activities and Restaurants.
Compared to the first quarter of 2022, the retail sales in the second quarter rose by 4 per cent, mainly due to an increase in the sales of Textiles, Wearing Apparel and Footwear; sales at Petrol Station; Furniture and Household Equipment; and sales in Department Store.
Food and beverage services also recorded an increase of 5.8 per cent in the second quarter compared to the first quarter of 2022, mainly due to rising sales revenue of Catering Service Activities; Beverage Serving Activities; Restaurants and Fast-Food Outlets.
Compared to the first quarter this year, the growing retail sales and food and beverage services activities were in line with the rising domestic demand as most control measures were reduced, such as increasing the capacity for the entry of customers into business premises from 75 per cent to full capacity following the cessation of the COVID-19 Early Endemic Phase.
The full report is available from ‘deps.mofe.gov.bn’.
Source: Radio Television Brunei