Residents spent significantly more cash overseas in March, according to the latest statistics.

According to the retail index for March, Bermudians returning from trips abroad bought $2.08 million worth of goods, an 11.8 percent increase compared to the amount residents spent last March.

The total value of retail sales for March increased by 1.2 percent year-over-year. Gross turnover in the retail sector was estimated at $45.4 million for the month. After adjusting for the rate of inflation, the volume of retail sales slipped 1.8 percent below the level reached in March 1999.

Sales were dampened slightly by Easter falling particularly late this year.

Stores affected by Easter shoppers including clothing, footwear, jewellery and kite supplies, all saw a three percent drop over last March. Other store types saw mixed levels of activity. Gross revenue sales for furniture, building materials, hardware supplies and marine equipment out-paced the previous year's figures.

Total sales receipts in the motor vehicle and service station sector, were up 4.5 percent.

Some auto dealers continued to experience low stocks of inventory, which caused average motor vehicle sales to remain fairly modest. In contrast, petrol sales were strong due partly to higher fuel prices and special sales promotions.

In the remaining sectors, food sales increased 4.2 percent and liquor sales 3.6 percent.