Food and Beverage Services Show Modest Growth in Fourth Quarter 2024

Bandar Seri Begawan: The sales of food and beverage services in the fourth quarter of 2024 recorded an increase of 1.1% compared to the same period in 2023, with sales revenue rising from $113.1 million to $114.4 million. In terms of volume, there was a positive growth of 0.5%, indicating a rise in domestic demand, as reported by the Department of Economic Planning and Statistics, Ministry of Finance and Economy. The increase was attributed to higher sales revenue in catering services, other food services, and fast-food outlets.

According to Radio Television Brunei, the sales value of food and beverage services also increased by 2% compared to the third quarter of 2024. This quarterly growth was driven by increases in sales revenue across other food services, fast-food outlets, catering services, and beverage-serving activities.

For the year 2024, however, the sales of food and beverage services recorded a slight decrease of 0.5% compared to the previous year. In volume terms, there was a negative growth of 1.2% for the same period.

Retail sales performance in 2024 also faced challenges, with a decrease of 5.6% recorded. Volume-wise, retail sales activity showed a negative growth of 5.4%, reflecting a fall in domestic demand. However, compared to the third quarter of 2024, the retail sales value increased by 6.8%. Overall, the retail sales performance in 2024 recorded a decrease of 3.5%.

Full reports of both activities are available from the DEPS website.