Hong Kong Retail Sales YoY2005-2020 Data | 2021-2023 Forecast | Calendar

Retail sales in Hong Kong dropped 4.7 percent year-on-year in November of 2020, the smallest decline since May of 2019, primarily due to a 22.3 percent jump in sales of consumer durable goods. Still, it is the 22nd straight month of falling retail sales as first social unrest and then the coronavirus pandemic kept tourists away. From January to November, retail sales went down 26.6 percent. Looking ahead, a government spokesman pointed out that as inbound tourism remains at a standstill, and the fourth wave of the local epidemic has weighed on local consumption sentiment since the latter part of November, the business environment of the retail trade will remain challenging in the near term.

Retail sales in Hong Kong fell 9.3 percent year-on-year in October of 2020, the least since June 2019 and following a downwardly revised 13.3 percent drop in the previous month, amid a stable coronavirus epidemic situation and a lower base of comparison. Still, it is the 21st straight month of falling retail sales. Sales fell less for fuels (-0.7 percent vs -3 percent in September); food, alcoholic drinks and tobacco (-9.2 percent vs -13.6 percent); clothing and footwear (-6.4 percent vs -13.5 percent). Considering the first ten months of 2020, retail sales declined 28.3 percent. Looking ahead, a government spokesman pointed out that with the fourth wave of the local epidemic spreading widely and quickly, the business environment of the retail trade may deteriorate again in the near term.

Retail sales in Hong Kong slumped 13.4 percent over a year earlier in September of 2020, the same pace as in the previous month. It was the 20th consecutive month of falling retail activity, as the ongoing Covid-19 pandemic continued to hamper spending and tourism. Sales declined mostly for food, alcoholic drinks and tobacco (-13.4 percent vs -19 percent in August); jewellery, watches and clocks, and valuable gifts (-28.9 percent vs -41.4 percent); electrical goods and other consumer durable goods (-36.8 percent vs 14.6 percent); wearing apparel (-15.3 percent vs -23.4 percent); medicines and cosmetics (-45.6 percent vs -40.6 percent); clothing, footwear and allied products (-14 percent vs -25.6 percent); Chinese drugs and herbs (-5.6 percent vs -26.1 percent) and optical shops (-24.7 percent vs -33.2 percent). Considering the first nine months of the year, retail sales plummeted 30 percent compared with the same period of 2019.

Retail sales in Hong Kong dropped 13.4 percent over a year earlier in August 2020, following a downwardly revised 23.8 percent plunge in the previous month. It was the 19th consecutive decrease in retail trade, as sales continued to fall mainly for food, alcoholic drinks and tobacco (-18.9 percent); jewellery, watches and clocks, and valuable gifts (-41.7 percent); wearing apparel (-23.3 percent); and medicines and cosmetics (-40.6 percent). Also, downward pressure came from fuels (-3.3 percent); books, newspapers, stationery and gifts (-37.8 percent); footwear, allied products and other clothing accessories (-36.6 percent); Chinese drugs and herbs (-25.8 percent); and optical shops (-33.3 percent). In contrast, sales rose for commodities in supermarkets (6.1 percent); electrical goods and other consumer durable goods, not elsewhere classified (15.5 percent); motor vehicles and parts (2.2 percent); and furniture and fixtures (7.1 percent).