Retail sales in Hong Kong fell by 0.7 percent year-on-year in December of 2022, following a 5.3 percent fall in the previous month. It was the smallest drop since October of 2015, as sales rebounded for food, alcoholic drinks & tobacco (0.2 percent vs -3.8 percent in November), and other consumer goods (3.9 percent vs -7 percent). At the same time, sales declined at a softer pace for clothing, footwear & allied products (-4.6 percent vs -19.5 percent) and department stores (-8.6 percent vs -20.9 percent). Meanwhile, sales slowed for consumer durable goods (4.9 percent vs 10.5 percent). Looking ahead, the government noted that the return of economic activities from epidemic to normalcy and an expected increase in inbound visitors should bode well for retail sales performance, as improvement was seen in labour market conditions. source: Census and Statistics Department, Hong Kong

Retail Sales YoY in Hong Kong averaged 2.44 percent from 2005 until 2022, reaching an all time high of 31.00 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 February of 2023.

Retail Sales YoY in Hong Kong is expected to be 5.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 2.10 percent in 2024 and 2.40 percent in 2025, according to our econometric models.

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Hong Kong Retail Sales YoY



Calendar GMT Actual Previous Consensus TEForecast
2023-01-04 08:30 AM Nov -5.3% 2.5% 1.7%
2023-02-03 08:30 AM Dec -0.7% -5.3% -0.9%
2023-03-02 08:30 AM Jan -0.7%


Related Last Previous Unit Reference
Retail Sales YoY -0.70 -5.30 percent Dec 2022
Consumer Spending 458486.00 469734.00 HKD Million Sep 2022
Retail Sales MoM 14.20 -7.80 percent Dec 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.70 -5.30 31.00 -46.70 2005 - 2022 percent Monthly

News Stream
Hong Kong Retail Sales Falls the Least Since 2015
Retail sales in Hong Kong fell by 0.7 percent year-on-year in December of 2022, following a 5.3 percent fall in the previous month. It was the smallest drop since October of 2015, as sales rebounded for food, alcoholic drinks & tobacco (0.2 percent vs -3.8 percent in November), and other consumer goods (3.9 percent vs -7 percent). At the same time, sales declined at a softer pace for clothing, footwear & allied products (-4.6 percent vs -19.5 percent) and department stores (-8.6 percent vs -20.9 percent). Meanwhile, sales slowed for consumer durable goods (4.9 percent vs 10.5 percent). Looking ahead, the government noted that the return of economic activities from epidemic to normalcy and an expected increase in inbound visitors should bode well for retail sales performance, as improvement was seen in labour market conditions.
2023-02-03
Hong Kong Retail Sales Drop the Most in 8 Months
Retail sales in Hong Kong slumped by 5.3% year-on-year in November 2022, following a marginally revised 2.5% rise in the previous month. It was the largest drop since March, due to sharp decline of sales from food, alcoholic drinks & tobacco (-3.7% vs -2% in October); fuels (-11.4% vs -6.3%); clothing, footwear & allied products (-19.4% vs -9.1%); department stores (-21.1% vs -19.2%); jewelry (-5.2% vs 15.9%); and other consumer goods (-6.8% vs 4.4%). Meanwhile, trade considerably slowed for consumer durable goods (9.9% vs 20.2%), while sales in supermarkets fell at a softer pace (-2.9% vs -5.5%). Looking ahead, the government noted that while tightened financial conditions continue to weigh on local spending, the further easing of social distancing measures, continued improvement in labor market conditions and expected rise in tourist arrivals will provide support for retail trade.
2023-01-04
Hong Kong Retail Sales Rebound in October
Retail sales in Hong Kong rebounded by 2.4 percent year-on-year in October of 2022, following a marginally revised 1.4 percent decline in the previous month. Sales advanced faster for jewelry, watches and clocks, & valuable gifts (15.9 percent vs. 9.2 percent in September), motor vehicles & parts (58.6 percent vs. 34.0 percent), and books, newspapers, stationery & gifts (32.8 percent vs. 7.4 percent). At the same time, sales rebounded for medicines & cosmetics (4.5 percent vs. -0.1 percent), Chinese drugs and herbs (5.2 percent vs. -5.1 percent), and optical shops (0.6 percent vs. -6.2 percent). Looking ahead, the government pointed out that improved labor market conditions and the Consumption Voucher Scheme will continue to support the retail sector. However, tightened financial conditions will partly offset the effects.
2022-12-01