Retail sales index drops 8.6% in Q4 2021
In the fourth quarter (Q4) of 2021, the Retail Sales Index (RSI) performance in Brunei Darussalam showed a year-on-year decline of 8.6% with an estimated retail sales value of BND 417.1 million. The Food & Beverage Services Index (F&BSI) also fell 22.9% from the fourth quarter of 2020, with revenue estimated at
74.2 million BND.
Regarding retail sales, almost all activities recorded a decline in sales compared to last year, driven mainly by sales of textiles, clothing and footwear which fell by 33.3%, followed by sales in petrol stations by 25.7%; sales of furniture and household equipment by 15.7%; sales in department stores by 10.3%; and specialty store appliance and lighting sales of 6.2 percent.
In food services, the drop in sales compared to the previous year was attributed to the decline in turnover of restaurants by 25.9%, followed by fast food establishments by 16.7%. and beverage service activities by 16.2%.
Compared to the fourth quarter of 2020, the decline in sales of most retail activities and food service sales was in line with the reinstatement of control measures for most of the fourth quarter of 2021, following the second wave of the COVID-19 epidemic, such as the ban on dining in effect until November 18, 2021 and only allowing 50% capacity from November 19, 2021, compared to full capacity of the previous year.
Compared to the third quarter (Q3) 2021, the ROI in Q4 2021 recorded an increase of 7%, mainly due to an increase in sales of leisure goods of 40.6%, followed by sales of computer equipment and telecommunications 28.5% percent; sales of watches and jewelry by 25.6%; sales of hardware, paint and glass in specialty stores by 22%; and specialty store appliance and lighting sales 17.2 percent.
Meanwhile, the F&BSI recorded an increase of 0.1% in Q4 2021 compared to Q3 2021, mainly due to the increase in revenue of the beverage service activities of 11.5% and restaurants. by 2.5%. This was in line with the transition phase starting on November 19, 2021, where commercial premises, including restaurants, cafes and food courts, are permitted at 50% of venue capacity.
The RSI and F&BSI are preliminary indicators of economic performance for both businesses and provide an outlook on consumer spending trends in Brunei Darussalam on a quarterly basis. Full reports on both of these activities are available on the Department of Economic Planning and Statistics website at https://deps.mofe.gov.bn.