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

Retail sales in Hong Kong were up 7.8 percent from a year earlier in May of 2021, following an upwardly revised 11.0 percent jump in the prior month. The latest reading pointed to the fourth straight month of expansion in retail trade but volumes remained far below pre-pandemic levels as inbound tourism remained frozen. Retail sales advanced the most for jewellery, watches, clocks & valuable gifts (49.5 percent vs 89.4 percent in April); other consumer goods (20.6 percent vs 23.0 percent); clothing & footwear (10.7 percent vs 58.3 percent); fuels (10.0 percent vs 15.8 percent); and consumer durable goods (6.8 percent vs 11.5 percent). In contrast, sales fell at a slower pace in department stores (-10.0 percent vs 23.3 percent) and in supermarkets (-4.2 percent vs -12.5 percent). Considering the first five months of 2021, retail sales jumped 8.0 percent compared to the same period last year.

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.