Construction Wholesale & Retail Show Growth
By Azlan Othman

Bandar Seri Begawan - Brunei's construction sector has shown improvement year-on-year and registered an estimated 10% growth in the first quarter of 2005. It was also estimated to have expanded by 3.2% compared with the previous quarter, the latest Economic Bulletin said.

The wholesale and retail trade sector posted an estimated 21.1% growth in the first quarter this year compared to the first quarter in 2004. Compared with the previous quarter, this sector was estimated to have expanded by 3.6%.

A survey on selected major wholesale companies showed a 5.4% growth in the value of sales in the first quarter of this year year-on-year. On a quarter-on-quarter basis, the value of sales also increased by 1.8%.

Meanwhile, a survey on selected major retail companies showed a 3 6.7% hike in the value of sales in the first quarter this year year-on-year. Likewise, on a quarter-onquarter basis, the value of retail sales rose by 5.4%.

The restaurants and hotel sector was estimated to have grown by 1.5% in the first quarter 2005 compared to the same period last year. Compared to the previous quarter, it was also estimated to have grown by 10.8%.

The hotels' occupancy rates remains unchanged when compared to the same period last year. On a quarter-on-quarter basis, the rates have increased by 8% compared to the fourth quarter 2004.

Meanwhile, the value of sales from selected major restaurants increased by 4.9% compared to the first quarter 2004. Likewise, on quarter-on-quarter basis, the value of sales also increased by 3.3%.

The transport and communications sector grew at an estimated 13.7% in the first quarter of this year. Compared to the previous quarter, this sector was estimated to have expanded by 5.9%. The improved year-on-year growth was mainly attributed to better performance in the communications sector.

The volume of cargo handled also increased by 24.8% in the first quarter this year compared to a year ago.

The banking and finance sector registered a contraction of 5.7% in the first quarter this year compared to the first quarter last year. Compared to the final quarter last year, it grew by 1.6%. The insurance sector registered an estimated growth of 3.9% in the first quarter this year compared to the same period last year. Compared to the fourth quarter last year, it contracted by 30.7%. -- Courtesy of Borneo Bulletin

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