Retail sales decreased 4.6 per cent says Economy and Labor Ministry

The Ministry of Economy and Labour released the October 2023 Retail Sales Index publication.

October’s volume of retail sales decreased 4.6 per cent compared to last year.  In value terms, retail sales decreased to an estimated $101.2 million, which represented a 1.3 per cent fall in sales value year-to-year.

Six of the seven sectors recorded year-over-year volume index decreases in October 2023:

  • The sales volume for Food Stores fell 4.8 per cent.

  • The Liquor Stores’ sales volume fell 8.7 per cent.

  • Service Stations’ sales volume declined 3.3 per cent.

  • The sales volume for Building Material Stores decreased 7.8 per cent.

  • The sales volume at Apparel Stores decreased 9.7 per cent.

  • In the All Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 10.1 per cent decrease in sales volume.

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

  • Motor Vehicle Stores’ sales volume increased 21.6 per cent.

Selected overseas declarations decreased 17.0 per cent compared to October 2022.

The public can review the October 2023 Retail Sales Index report in full at

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