In the first quarter, Q1 2023, sales of food and beverages services has increased by 17.7 per cent compared to Q1 2022 with an estimated sales revenue increased from 91.9 million dollars to 108.2 million dollars. In terms of volume, food and beverages activity also recorded a positive growth of 12.7 per cent year-on-year.
The Department of Economic Planning and Statistics, Ministry of Finance and Economy, in its press release stated that the increase in sales revenue of food and beverages was mainly attributed by the increase in Catering Service Activities; followed by Fast-food Outlets; and Restaurants. For quarter to quarter comparison, the sales value and volume of food and beverage services has recorded a decrease, compared to the fourth quarter, Q4 of 2022
As for retail sales performance, a year-on-year decrease of 4 per cent was recorded due to a fall in domestic demand in line with lower sales volume of 4.9 per cent year-on-year.
Meanwhile, the retail sales value and volume in Q1 2023 also recorded a decrease of 1.7 per cent.
Full reports on the Retails Sales Index and Food and Beverage service are available from DEPS's website, 'https://deps.mofe.gov.bn'.
Source: Radio Television Brunei