Retail Sales Publication – May 2023

Today, the Ministry of Economy and Labour released the May 2023 Retail Sales Index publication (attached).

May's retail sales volume decreased 0.2 per cent compared to last year.  In value terms, retail sales increased to an estimated $107.5 million.

Six of the seven sectors recorded year-over-year volume decreases in May 2023.  

• The sales volume for Food Stores fell 3.9 per cent.

• The Liquor Stores' sales volume fell 8.3 per cent.

• Service Stations' sales volume decreased 2.5 per cent.

• The sales volume for Building Material Stores decreased 4.1 per cent.

• The sales volume at Apparel Stores dropped 3.5 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 1.6 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 grew 16.0 per cent.

Selected overseas declarations decreased 5.0 per cent compared to May 2022.

The public can review the May 2023 Retail Sales Index report in full at /retail-sales-index-rsi.