Puerto Rico’s small and mid-sized retailers showed a 10% year-over-year growth in March 2019, when totals exceeded $1.1 billion in sales, vs. $1.06 billion in the same month of 2018.
According to data shared by Puerto Rico Trade and Export, the month’s $110 million increase maintained a month-to-month growth trend. In February, the sector reported a 6% increase, said Puerto Rico Trade Executive Director Ricardo Llerandi.
“A 1.17% increase was reported in total cumulative sales of small and medium businesses from January to March 2019, when compared to the same period of 2018, he said.
Reported total sales from January to March amounted to $3.35 billion, while for the same period of 2018 they totaled $3.31 billion, representing an increase of $38 million.
“That’s why we will continue to focus on providing small and medium businesses the best resources targeted toward innovation and export through the ‘Puerto Rico Emprende’ platform,” Llerandi said.
Total sales for March totaled $2.8 billion, compared to sales of $2.7 billion in March 2018.
Sectors reporting higher increase in sales of were new and used motor vehicles, with 25.1%, playground and landscaping equipment, with 22.8%, electronics stores 22.1%, pharmacies with 7.2%, and cosmetics and beauty products stores, with 5.6%.
Total sales recorded in March have been the highest so far in 2019. The months of January and February reported total sales were $2.5 billion and $ 2.7 billion, respectively, Llerandi said.