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Brunei retail sales up
Brunei’s retail sales performance in the first quarter (Q1) of 2020 increased to 4.3 per cent compared to the first quarter of 2019.
This was stated in the Retail Sales Index (RSI) released by the Department of Economic Planning and Statistics (JPES) recently. JPES also released the Food and Beverages Services Index (F&BSI).
The reports are released every quarter starting with the Q1 this year.
The increase was driven by higher domestic demand following the impact of the COVID-19 outbreak that increased sales for supermarkets, department stores, mini marts, computer and telecommunication equipment and electrical household appliances and lighting equipment in specialised stores.
Retail sales recorded a 6.6 per cent increase of in Q1 this year compared to the fourth quarter (Q4) 2019.
Sales increases were recorded in supermarket, department store, mini mart, computer and telecommunication equipment, hardware, paints and glass in specialised stores, furniture and household equipment, electrical household appliances and lighting equipment in specialised stores and others.
The value of retail sales in Q1 this year was estimated at BND406.0 million.
The sales performance of food and beverages services in the country in Q1 2020 compared to Q1 2019 increased by 0.4 per cent driven by the activity of the fast food outlets and beverage serving activities.
Compared to Q4 in 2019, food and beverage services have recorded a 1.7-per-cent decline in Q1 2020 due to declining revenues of restaurants, fast food outlets and other food
service activities.
The value of sales for food and beverages services was estimated at BND84.9 million.
RSI F&BSI are preliminary indicators of economic performance for both activities and outlook for consumer spending trends in the Sultanate on a quarterly basis. Full reports of both activities are available at www.deps.gov.bn.
Source: https://borneobulletin.com.bn/2020/06/brunei-retail-sales-up/