In the fourth quarter (Q4) of 2023, retail sales recorded an increase of 0.8 per cent compared to Q4 2022 with sales revenue increased from BND440.9 million to BND444.2 million. In terms of volume, retail sales activity also recorded a positive growth of 0.3 per cent compared to Q4 2022 indicating a rise in domestic demand, according to a statement by Department of Economic Planning and Statistics (JPES).
The increase in sales revenue of retail sales was mainly attributed to the increase in sales of hardware, paints and glass in specialised stores by 31.2 per cent, followed by sales at petrol station by seven per cent; sales of electrical household appliances and lighting equipment in specialised stores by 6.6 per cent; sales of furniture and household equipment by four per cent; and sales of computer and telecommunications equipment by two per cent.
For quarterly comparison, the retail sales value and volume in Q4 2023 also increased compared to the third quarter (Q3) of 2023. The retail sales value increased by 6.8 per cent, mainly driven by an increase in the sales of computer and telecommunications equipment by 31.4 per cent, followed by sales of hardware, paints and glass in specialised stores by 27.4 per cent; sales of textiles, wearing apparel and footwear by 24.4 per cent; sales of furniture and household equipment by 18.3 per cent; and sales at department store by 4.9 per cent.
As for sales of food and beverage services, an increase of four per cent was recorded compared to Q4 2022, with sales revenue increased from BND108.8 million to BND113.1 million. In terms of volume, food and beverages activity also recorded a positive growth of 3.3 per cent compared to Q4 2022 indicating an increase in domestic demand.
The increase in sales revenue of food and beverage (F&B) was attributed to the rise in almost all F&B services activities, namely catering service activities increased by 28.1 per cent, followed by beverage serving activities by 14.5 per cent; other food service activities by 9.4 per cent; and restaurants by 3.2 per cent.
For quarterly comparison, the sales value and volume of F&B services have decreased compared to the third quarter (Q3) of 2023. The sales value of F&B services decreased by 1.5 per cent in Q4 2023 due to the decrease in sales revenue of fast-food outlets by 8.4 per cent; beverage serving activities by 4.2 per cent; other food service activities by 1.1 per cent; and restaurants by 0.2 per cent.
Retail Sales Index and Food & Beverages Services Index are preliminary indicators of economic performance for both activities and provide an outlook for consumer spending trends in Brunei Darussalam on a quarterly basis. Full reports of both activities are available from JPES’ website: https://deps.mofe.gov.bn.
