Retail sales volume rises for 15th month
Retail sales volume rose for the 15th month in a row in March.
Sales went up 4.9 per cent to $92 million, compared to the $87.7 million recorded in March 2015, with six of the seven recorded sectors logging increases. After accounting for inflation, retail sales volume was up 3.6 per cent.
After adjustment for inflation, which was measured at 1.1 per cent for March, the volume of sales increased by 3.6 per cent.
Building materials retailers registered the largest gain, up by 13.3 per cent, but clothing stores recorded a fall of 4.3 per cent.
The rise in the building sector was linked to increased inventory, as well as an increase in DIY projects and small contractor business.
Motor vehicle sales were also up, by 6.8 per cent compared to the same month the previous year.
The number of vehicles sold went up by 8.2 per cent.
Government statisticians said: “The increased sales were due to a wider variety of motor vehicle models available for sale and promotions during the period.”
Sales receipts from liquor sales went up by 6.9 per cent and sales revenue for food stores increased by 5.6 per cent.
Sales of volume at liquor stores rose by 4.9 per cent, with the volume of food sales up 3.4 per cent.
The increased sales were attributed to Easter falling in March this year.
Sales receipts in the all other store types category went up 6.2 per cent year on year, with gross receipts for marine and boat supplies jumping 65.5 per cent, attributed to an increase in sales of large vessels.
Tourist-related stores also showed an increase, up 14.9 per cent, put down to higher demand for discounted items.
Gross receipts in pharmacy stores went up 6.9 per cent, while furniture, appliances and electronics sales rose by 0.1 per cent.
After allowing for inflation, sales volume in the all other stores category increased by 5.2 per cent.
The value of fuel sales at service stations went up 0.8 per cent, with the rise in revenue attributed to a 3.8 per increase in the volume of fuel sold.
Returning residents declared $3.4 million on overseas purchases in March, down from the $3.7 million in the same month last year.