Hong Kong Retail Sales YoY2005-2021 Data | 2022-2023 Forecast | Calendar

Retail sales in Hong Kong advanced 10.9 percent year-on-year in April of 2021, easing from an upwardly revised 19.9 percent jump in the prior month. The latest reading pointed to the third straight month of expansion in retail sales but volumes remained far below pre-pandemic levels as inbound tourism remained frozen. The largest increases in volumes were seen in sales of jewellery, watches, clocks & valuable gifts (88.8 percent vs 78.8 percent in March); followed by clothing & footwear (57.2 percent vs 71.1 percent); other consumer goods (23.0 percent vs 28.8 percent); and fuels (15.8 percent vs 13.2 percent). Meanwhile, sales fell the most for department stores (-23.0 percent vs 1.9 percent) and supermarkets (-13.0 percent vs -15.7 percent). Considering the first four months of 2021, retail sales went up 8.1 percent compared to the same period last year. Looking ahead, the near-term outlook for retail trade remained challenging, a government spokesman said.

Retail sales in Hong Kong jumped 19.8 percent from a year ago in April of 2021, easing from an historic high of 31.6 percent in the prior month. The latest reading reflected mainly a low base of comparison early last year amid the COVID-19 outbreak, with the analysis of the combined total sales for the first quarter being more appropriate. Considering the first three months of the year, retail sales advanced 7.2 percent over a year ago, underpinned by consumer durable goods (31.1 percent), mostly electrical goods & other consumer durable goods; clothing, footwear & allied products (24.3 percent), mainly driven by wearing apparel; and jewellery, watches, clocks & valuable gifts (13.6 percent). By contrast, sales decreased the most for supermarkets (12.4 percent). A government spokesman highlighted that local consumption sentiment saw some improvement after the gradual lifting of restrictions, while the near-term outlook remained challenging due to low numbers of inbound tourists.

Retail sales in Hong Kong surged 31.7% from a year ago in February of 2021, the first increase in retail activity after 24 straight months of decline and the strongest since at least October of 2005. The latest reading reflected mainly the usual greater volatility in the first two months of a year due to the timing of the Lunar New Year and a low base of comparison early last year amid the COVID-19 outbreak, with the analysis of the combined total sales for January and February being more appropriate. Considering the first two months of the year, retail sales advanced 2.5% over a year ago, boosted by consumer durable goods (29.7%), of which electrical goods and other consumer durable goods (38.3%); and clothing, footwear and allied products (10.8%). Still, sales remained weak mostly for supermarkets (-10.3%). A government spokesman pointed out that the retail trade will continue to face a difficult business environment in the near term as inbound tourism remains frozen.

Retail sales in Hong Kong fell 14.5 percent year-on-year in January of 2021, the biggest decrease in 6 months amid the 4th wave of coronavirus and distortions in the timing of the Lunar New Year. Local consumer spending normally attains a seasonal high before the Lunar New Year Festival which fell on February 12th this year but on January 25th last year. Still, retail sales have been falling consistently in the last 2 years due to the pandemic and social unrest. In January, biggest decreases were seen in sales of jewellry, watches and clocks (-45 percent) and clothing and footwear (-25.3 percent). A government spokesman pointed out that the business environment of the retail trade will still be difficult in the near term as the epidemic continues to pose a threat and inbound tourism remains frozen.