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.