Brunei's retail sales index (RSI) continued to rise with an 11.9 percent increase year-on-year recorded in the first quarter (Q1) of this year, after a 21.3 percent surge in the fourth quarter of 2020, official statistics showed on Wednesday.

According to the Department of Economic Planning and Statistics at the Ministry of Finance and Economy, an estimated retail sales value of 454.4 million Brunei dollars (338 million U.S. dollars) were recorded in Q1, thanks largely to an increase of 62.2 percent in the sales of watches and jewellery, followed by a 52.0 percent growth in the sales of the textiles, wearing apparel and footwear, and a 24.7 percent growth for the hardware, paints and glass in specialized stores.

Meanwhile, the food and beverages services index recorded an 11.6 percent increase year-on-year with an estimated sales revenue of 94.7 million Brunei dollars (70 million U.S. dollars). The rise in food and beverages sales was in line with rising domestic demand due to travel restrictions abroad.

On a quarterly basis, the retail sales in Brunei recorded a decrease of 0.3 percent in Q1 compared to the previous quarter, showed the official data.

The RSI measures the movements of retail sales activities in Brunei, serving as a leading economic indicator of the retail trade performance as well as consumer spending behavior.