Business

Growth recorded in retail sector

October 1, 2024 9:45 am

The wholesale and retail trade sector recorded a steady increase in total sales in the June quarter of this year reflecting positive industry performance despite mixed results across various categories.

According to the Fiji Bureau of Statistics, total sales for the sector stood at $1,658.1 million, marking a 4.9 percent increase compared to the same period in 2023.

The data also show a quarterly growth of three percent, with sales rising by $48.7 million compared to the March quarter.

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This growth comes from registered businesses engaged in wholesale and retail trade and the repair of motor vehicles and motorcycles.

According to the FBOS a strong performance was recorded in automotive fuel and motor vehicle sales.

Automotive fuel sales rose by 11.4 percent, or $58.4 million, compared to the June quarter of 2023, while motor vehicle sales surged by 21.4 percent, or $15.5 million.

Motor vehicle parts and accessories also saw significant growth, with a 28 percent increase in sales, amounting to an additional $11.5 million.

Meanwhile, the hardware sector also performed well, with an 11 percent rise in sales, contributing an extra $8.8 million compared to the same period last year.

Household appliances and furniture sales saw a 6.1 percent increase, adding $4.1 million to the sector’s total.

The sales of food, beverages, and tobacco saw a significant drop of 7.4 percent or $37.1 million.

The pharmaceutical sector also reported a 3.4 percent decline in sales, losing $2.8 million.

Additionally, textiles, clothing, and footwear sales decreased slightly by 1.6 percent, down by $1.1 million compared to the June quarter of 2023.