The Census and Statistics Department of the Hong Kong Government released the latest retail sales figures today (June 1). Refers to the provisional estimate of the total retail sales value in April 2023 at 34.7 billion yuan (HK$, the same below), an increase of 15.0% over the same month in 2022. The revised estimate of the value of total retail sales in March 2023 rose by 40.8% from the same month in 2022. Compared with the same period in 2022, the provisional estimate of the value of total retail sales in the first four months of 2023 combined increased by 21.7%.
Online sales accounted for 6.4% of the value of total retail sales in April 2023. The provisional estimate of the value of retail online sales for the month was $2.2 billion, down 11.9% from the same month in 2022. The revised estimate for the value of retail online sales in March 2023 was 9.1% lower than the same month in 2022. Compared with the same period in 2022, the provisional estimate of the value of retail online sales in the first four months of 2023 combined decreased by 6.9%. The provisional estimate of the volume of total retail sales in April 2023 rose by 13.3% compared with the same month in 2022, after deducting price changes during the period. The revised estimate of the volume of total retail sales in March 2023 was 39.3% higher than the same month in 2022. Compared with the same period in 2022, the provisional estimate of the volume of total retail sales for the first four months of 2023 increased by 19.9%.
Analyzing the provisional estimates of the value of sales by major categories of retailers in descending order, comparing April 2023 with April 2022, the value of sales of jewellery, watches, clocks and valuable gifts increased by 75.2%. This was followed by other consumer goods not classified (increased by 17.8% in value of sales); clothing (increased by 38.6%); food, alcoholic beverages and tobacco (increased by 3.9%); goods in department stores (increased by 14.0%); %); motor vehicles and auto parts (up 18.4%); footwear, related products and other clothing accessories (up 26.2%); Chinese medicines (up 7.3%); books, newspapers, stationery and gifts (up 29.9%); and optical shops (up 16.6%).
On the other hand, comparing April 2023 with the same month in 2022, the value of sales of goods in supermarkets decreased by 7.9%. This was followed by electrical and other consumer durables not elsewhere classified (-13.1% in value sales); fuel (-10.2%); and furniture and fixtures (-26.0%). For the three months ending April 2023, the provisional estimate of the seasonally adjusted value of total retail sales increased by 29.2% compared with the preceding three months, while the provisional estimate of the seasonally adjusted volume of total retail sales rose by 25.5%.
A government spokesman said that with the continuous improvement in the consumption sentiment and the number of tourist arrivals, the value of total retail sales increased significantly year-on-year in April. Looking ahead, the spokesman pointed out that the recovery of inbound tourism and consumer demand in Hong Kong should continue to support the performance of the retail sector. The issuance of consumer vouchers by the government will provide further support.
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2023-06-01 09:18:00
