February 2024 Retail Sales Index

Today, the Ministry of Economy and Labour released the February 2024 Retail Sales Index publication (attached). 

February’s volume of retail sales index increased 0.6 per cent compared to last year.  In value terms, retail sales remained unchanged at an estimated $92.2 million.

Three of the seven sectors recorded year-over-year volume index increases in February 2024:  

• Service Stations’ sales volume increased 5.0 per cent.

• The sales volume for Food Stores rose 2.8 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 2.6 per cent increase in sales volume.

The following sectors had a decrease in sales volume compared to the previous year:

• The sales volume for Building Material Stores decreased by 0.1 per cent.

• The Liquor Stores’ sales volume fell 4.8 per cent.

• The sales volume at Apparel Stores decreased 5.1 per cent.

• Motor Vehicle Stores’ sales volume decreased 17.5 per cent.

Selected overseas declarations increased by 14.3 per cent compared to February 2023.

The public can review the February 2024 Retail Sales Index report at /retail-sales-index-rsi.