Total retail sales value in Hong Kong rose 8% year-on-year in the first three quarters of this year

Citizens crossing the streets of Central, Hong Kong (file photo). Photo by Xinhua News Agency reporter Wang Shen

Hong Kong, 2 Nov (Xinhua) -- On 2 November, the Hong Kong SAR government released the latest retail sales figures. The provisional estimate of the total value of retail sales in September this year was HK$28 billion, up 7.3% year-on-year. The revised revised value of total retail sales in August was estimated to have increased by 11.9% year-on-year. The provisional estimate of the total value of retail sales in the first three quarters of this year rose by 8% year-on-year.

Online sales accounted for 8% of the total retail sales value in September this year, and the provisional estimate of the value of online sales in the retail sector in the month was HK$2.3 billion, up 30.5% year-on-year. The revised value of online sales in retail in August this year is estimated to rise by 17.6% year-on-year. The provisional estimate of the combined online sales value of the retail sector in the first three quarters of this year increased by 43.5% year-on-year.

Based on the interim estimate of the value of goods sold by the main categories of retailers, the value of sales of electrical appliances and other unclassified durable goods rose by 48.3% compared with the same period last year in September this year. This was followed by food, alcoholic beverages and tobacco (sales value increased by 0.5%); jewellery, watches and precious gifts (up 16.2%).

The provisional estimate of the seasonally adjusted total retail sales value rose by 3.7 per cent compared to the second quarter of this year, while the provisional estimate of the seasonally adjusted total number of retail sales rose by 1.6 per cent.

A spokesman for the HKSAR Government said that looking ahead, the stability of the epidemic in Hong Kong and the improvement of employment and income situation, coupled with the consumption voucher scheme, should continue to support the retail sector in the short term. But the near-frozen tourism industry will continue to constrain the degree of recovery. For retail and the economy as a whole to recover more fully, societies must strive to achieve wider vaccination.