Hong Kong’s retail sales rise 5.6 per cent in value
Hong Kong’s August retail sales value rose 5.6 per cent from a year earlier to 32.1 billion Hong Kong dollars. Sales volume, which removes price changes, increased 2.9 per cent. Online sales also grew, while product categories diverged sharply. Despite the annual increase, seasonally adjusted sales volume over June–August fell 3.4 per cent against the preceding three months.
Economics & Markets··Evening
August retail sales reach 32.1 billion Hong Kong dollars
Hong Kong’s retail sales value reached 32.1 billion Hong Kong dollars in August, up 5.6 per cent from a year earlier.[1], [2]
The provisional figures released on 2 October cover goods sold in physical shops and online, including visitors’ purchases. After removing price changes, sales volume grew 2.9 per cent annually. July’s annual increases were revised to 4.5 per cent in value and measured at 2.4 per cent in volume. January–August sales value was 8.5 per cent higher than a year earlier, while volume increased 6.1 per cent.[1]
Online sales grow as vehicle sales decline
Online sales reached 2.8 billion Hong Kong dollars, accounting for 8.7 per cent of the August total and growing 9.9 per cent annually. Across product categories, electrical goods and other consumer durables rose 29.1 per cent in value; jewellery increased 11.9 per cent and supermarkets 2.1 per cent. Motor vehicles fell 22.0 per cent, fuels 11.7 per cent and clothing 0.5 per cent.[1]
Three-month sales volume falls 3.4 per cent
On a seasonally adjusted basis, June–August sales volume fell 3.4 per cent compared with the preceding three months. Sales value declined 4.6 per cent on the same basis. The retail survey excludes services spending and Hong Kong residents’ purchases abroad. Services make up more than half of overall consumer spending, leaving the goods survey narrower than total private consumption expenditure.[1]
