The sales value of food and beverage services in the third quarter (Q3) 2024 decreased by 2.4 per cent compared to Q3 2023, with sales revenue decreasing from BND114.9 million to BND112.2 million. In terms of volume, food and beverages services also recorded a negative growth of 1 per cent compared to Q3 2023, indicating a decrease in domestic demand, according to the latest Retail Sales Index (RSI) released by the Department of Economic Planning and Statistics (DEPS).
The decrease in sales revenue of food and beverage was primarily due to decline in sales revenue of fast-food outlets by 11.2 per cent, beverage-serving activities by 8.3 per cent, other food services by 6.4 per cent, and restaurants by 0.6 per cent.
However, in Q3 2024, food and beverage services recorded an increase of 1.7 per cent compared to the second quarter (Q2) 2024. This growth was attributed to increases in sales revenue of catering services by 8.6 per cent and restaurants by 3.4 per cent.
As for retail sales performance, a decrease of 5.6 per cent was recorded compared to Q3 2023, with sales revenue decreasing from BND415.9 million to BND392.4 million. In terms of volume, retail sales activity also recorded a negative growth of 5.1 per cent compared to Q3 2023, reflecting a fall in domestic demand.
The decrease in retail sales revenue was mainly attributed to decreases in the sales of computer and telecommunications equipment by 20.4 per cent, electrical household appliances and lighting equipment in specialised stores by 11.5 per cent; department store sales by 4.7 per cent, supermarket sales by 4.2 per cent, and petrol station sales by 3.9 per cent.
Compared to Q2 of 2024, the retail sales value decreased by 3 per cent, driven mainly by decreases in the sales of textiles, wearing apparel and footwear by 25.9 per cent, watches and jewellery by 18.5 per cent, electrical household appliances and lighting equipment in specialised stores by 12.7 per cent, department store sales by 10.2 per cent, and computer and telecommunications equipment by 7.1 per cent.
Retail Sales Index (RSI) and Food & Beverages Services Index (F&BSI) 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 DEPS’s website: https://deps.mofe.gov.bn.
