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. source: Census and Statistics Department, Hong Kong

Retail Sales YoY in Hong Kong averaged 2.63 percent from 2005 until 2021, reaching an all time high of 31.70 percent in February of 2021 and a record low of -46.70 percent in February of 2020. This page provides the latest reported value for - Hong Kong Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

Retail Sales YoY in Hong Kong is expected to be 15.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Hong Kong to stand at 8.50 in 12 months time. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 4.50 percent in 2022, according to our econometric models.

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Hong Kong Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
19.80 31.60 31.60 -46.70 2005 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-02-02 08:30 AM Dec -14% -4.7% -7%
2021-03-03 08:30 AM Jan -14.5% -14% -6%
2021-03-30 08:30 AM Feb 31.7% -14.6% -7%
2021-05-04 08:30 AM Mar 19.8% 31.6% 25%
2021-06-01 08:30 AM Apr 19.8%
2021-06-30 08:30 AM May
2021-08-02 08:30 AM Jun
2021-08-31 08:30 AM Jul


News Stream
Hong Kong Retail Sales Extend Gains in March
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.
2021-05-04
Hong Kong Retail Sales Rebound Sharply in February
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.
2021-03-30
Hong Kong Retail Sales Continue to Fall
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.
2021-03-03
Hong Kong Retail Sales Shrink the Most in 5 Months
Retail sales in Hong Kong plummeted 14 percent year-on-year in December of 2020, the biggest decline since July, after slumping 4.7 percent in the previous month. It is the 23rd straight month of falling retail activity, amid the fourth wave of the local epidemic and the resultant social distancing measures. Sales declined primarily for jewellery, watches and clocks, and valuable gifts (-44.9 percent); medicines & cosmetics (-40.8 percent) and clothing, footwear and allied products (-25.1 percent). For 2020 as a whole, retail sales fell by 25.5 percent, the largest annual decline on record, reflecting the severe blow to consumption-related activities caused by the epidemic.
2021-02-02

Hong Kong Retail Sales YoY
In Hong Kong, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.