Puerto Rico retail sales up 1% in September vs. ’13
Retail sales of commercial in Puerto Rico were up 1.06 percent in September 2014 compared to the same month in 2013, Puerto Rico Trade and Export said Wednesday.
Sales reached $3.09 billion in September 2014, versus $3.06 billion in September 2013, representing $32 million in added activity, PR Trade Executive Director Francisco Chévere said.
“It’s important to point out that sales for small and medium businesses reflected a growth of 1.77 percent in September when compared to the same period last year, reaching a total value of $2.2 billion,” Chévere said.
“The sector has seen increases in sales for most of 2014 of 4.4 percent. Small and medium businesses are essential for job creation and economic development. That’s why the current administration has adopted new laws that strengthen this sector of our economy like never before,” he said.
The agency defines the small business category as those establishments with payroll of $0 to less than $ 20,000. Midsize businesses include establishments with a quarterly payroll of between $ 20,000 and less than or equal to $250,000. Large companies are all those with a payroll higher than $250,000.
Meanwhile, this report reflects an increase in sales in 12 of the island’s retail sectors, headed by variety stores with 9.06 percent, cafes and restaurants with 8.1 percent and shoe stores with 6.9 percent.
In terms of value increase, the areas of pharmacies, gas stations and radio, television and computer stores also significantly contributed to the increase in sales.
While the areas of greatest contraction in September were jewelry stores with (-5.2 percent), auto supply and home stores with (-5.15 percent), and new and used motor vehicles with (-4.1 percent).