(Bandar Seri Begawan, 12th) The sales of food and beverage services declined by 2.4% in the third quarter of 2024 (Q3) compared to the third quarter of 2023, with sales revenue dropping from 114.9 billion to 112.2 billion.
According to the latest Retail Sales Index (RSI) released by the Department of Economic Planning and Statistics (DEPS), in terms of quantity, food and beverage services also recorded a 1% negative growth compared to the third quarter of 2023, indicating a decline in domestic demand.
The decline in food and beverage sales revenue was mainly due to an 11.2% decrease in fast food sales revenue, an 8.3% decline in beverage service activities, a 6.4% decrease in other food services, and a 0.6% drop in restaurants.
However, compared with the second quarter of 2024 (Q2), catering services grew by 1.7% in the third quarter of 2024. This growth is attributed to an 8.6% increase in catering service sales revenue and a 3.4% increase in restaurant sales revenue.
In terms of retail sales performance, it decreased by 5.6% compared to the third quarter of 2023, with sales revenue dropping from 415.9 billion to 392.4 billion. In terms of quantity, retail sales activities also experienced a 5.1% negative growth compared to the third quarter of 2023, reflecting a decrease in domestic demand.
The decline in retail sales revenue was mainly attributed to a 20.4% decrease in computer and telecommunications equipment sales, an 11.5% drop in home appliances and specialty store lighting equipment sales; a 4.7% decrease in department store sales, a 4.2% decline in supermarket sales, and a 3.9% drop in petrol station sales.
Compared with the second quarter of 2024, retail sales declined by 3%, mainly due to a 25.9% decrease in textiles, clothing, and footwear sales, an 18.5% drop in watch and jewelry sales, a 12.7% decline in home appliances and specialty store lighting equipment sales, a 10.2% drop in department store sales, and a 7.1% decrease in computer and telecommunications equipment sales.
The Retail Sales Index (RSI) and Food & Beverage Service Index (F&BSI) are preliminary indicators of the economic performance of these two activities and provide quarterly insights into the trend of consumer spending in Brunei. The full report on these activities can be accessed from the DEPS website: https://deps.mofe.gov.bn
The decline in food and beverage sales revenue was mainly due to an 11.2% decrease in fast food sales revenue, an 8.3% decline in beverage service activities, a 6.4% decrease in other food services, and a 0.6% drop in restaurants.
However, compared with the second quarter of 2024 (Q2), catering services grew by 1.7% in the third quarter of 2024. This growth is attributed to an 8.6% increase in catering service sales revenue and a 3.4% increase in restaurant sales revenue.
In terms of retail sales performance, it decreased by 5.6% compared to the third quarter of 2023, with sales revenue dropping from 415.9 billion to 392.4 billion. In terms of quantity, retail sales activities also experienced a 5.1% negative growth compared to the third quarter of 2023, reflecting a decrease in domestic demand.
The decline in retail sales revenue was mainly attributed to a 20.4% decrease in computer and telecommunications equipment sales, an 11.5% drop in home appliances and specialty store lighting equipment sales; a 4.7% decrease in department store sales, a 4.2% decline in supermarket sales, and a 3.9% drop in petrol station sales.
Compared with the second quarter of 2024, retail sales declined by 3%, mainly due to a 25.9% decrease in textiles, clothing, and footwear sales, an 18.5% drop in watch and jewelry sales, a 12.7% decline in home appliances and specialty store lighting equipment sales, a 10.2% drop in department store sales, and a 7.1% decrease in computer and telecommunications equipment sales.
The Retail Sales Index (RSI) and Food & Beverage Service Index (F&BSI) are preliminary indicators of the economic performance of these two activities and provide quarterly insights into the trend of consumer spending in Brunei. The full report on these activities can be accessed from the DEPS website: https://deps.mofe.gov.bn