Wholesale and retail sales record in the third quarter Slight increase

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Wholesale and retail trade statistics are published quarterly by the Fiji Bureau of Statistics. The indicator tracks the dollar value of goods sold in the wholesale and retail trade

Wholesale and retail trade statistics are published quarterly by the Fiji Bureau of Statistics.

The indicator tracks the dollar value of goods sold in the wholesale and retail sector and covers registered businesses engaged in this sector, including the repair of motor vehicles and motorcycles, which accounts for 80% of the turnover. business of this line of business.

In general, the wholesale and retail trade sectors act as intermediaries in the distribution of goods between producers and consumers of goods.

Wholesalers include establishments that wholesale merchandise, generally without processing, and provide services incidental to the sale of merchandise.

They do not produce or consume the finished product, but rather sell it to retailers, other traders and/or industrial, institutional and commercial users.

Wholesalers generally do not deal directly with the end user.

Retailers, on the other hand, include establishments engaged in the sale of goods for personal or household consumption and the provision of services incidental to the sale of the goods.

They normally engage in activities to induce the general public to purchase their products and they offer goods and services directly to consumers.

Typically, these businesses offer goods and services for sale directly to end consumers, usually individuals.

Wholesale and retail trade statistics from the Fiji Bureau of Statistics for the September 2017 quarter showed that total wholesale and retail trade sales were $984.6 million.

Total sales increased 1.9% ($18.8 million) from the September 2016 quarter due to higher sales of motor vehicles and alcoholic beverages.

Total sales increased 0.7% ($7.2 million) from the June 2017 quarter due to higher sales of computer hardware and alcoholic beverages.

Wholesale and retail trade statistics are used to help determine the trend in consumer spending over a period of time.

It is an important component of gross domestic product, which measures the output of an economy, and is part of many economic models used by public and private organizations.

The Reserve Bank uses this data to analyze recent trends in consumer purchases as part of their overall analysis of economic activity.

In more advanced economies, like that of the United States, the release of trade data can cause enormous volatility in the stock market as it is used as one of the main predictors of inflationary pressure.

Typically, slow growth in sales may indicate that consumers are not spending as much as they used to, which could signal a possible decline in economic activities due to the important role that personal consumption plays in the health of the economy.

Wholesale and retail trade statistics are also an integral part of business operational planning.

By referring to these statistics as well as other demand data, companies can plan their supply accordingly.

Moreover, in wholesale and retail trade statistics, investors are able to identify interesting trends among different types of goods and services from different industries and thus plan their investment portfolio accordingly.

Return: maria.vula@fijisun.com.fj

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