Retail sales rise as overseas purchases surge
Retail sales volume rose 1.1 per cent in February compared with a year earlier, while the value of selected overseas purchases jumped by almost a third.
The Department of Statistics’ report, released by the Ministry of Economy and Labour, said retail sales were worth an estimated $102.1 million during the month, an increase of 4.1 per cent year over year.
After adjusting for the 3 per cent retail inflation rate, sales volume increased by 1.1 per cent, matching January’s gain.
Five of the seven sectors recorded higher sales volumes, led by the broad “all other store types” category, which includes retailers selling household goods, furniture, appliances, electronics, pharmaceuticals and tourist-related products.
Sales volume in that category increased 8.8 per cent, while its value rose 10.7 per cent.
Within the sector, sales of miscellaneous goods jumped 45.5 per cent and furniture receipts rose 22.1 per cent. Pharmacy sales increased 8.7 per cent and sales of appliances and electronics climbed 3 per cent. Boat and marine supply sales fell 38.1 per cent.
Motor vehicle stores recorded a 3.5 per cent increase in volume, followed by service stations at 3.2 per cent, apparel stores at 2.1 per cent and food stores at 1.8 per cent.
Building material stores experienced the sharpest decline, with sales volume falling 8.9 per cent and value dropping 9 per cent.
Liquor store sales volume decreased 1.3 per cent, while sales value declined 2.1 per cent.
Selected overseas declarations rose 30.3 per cent to $31 million.
Courier imports increased by $5.3 million to $18.2 million, driven by imports including orthopaedic appliances, corrective lenses, hearing aids and equipment for people with disabilities.
Household imports by sea rose $1.6 million to $8.6 million, while declarations made by returning residents at the airport increased $300,000 to $3.7 million.
Imports through the Bermuda Post Office were unchanged at $500,000.
Excluding Sundays, February had 24 shopping days, the same as February 2025.
