Hong Kong's retail sales volume rose 10.4% in November

The Hong Kong Census and Statistics Department announced on December 30 that in November this year, the value of total retail sales rose 17.9% year-on-year to 27 billion yuan. After deducting price changes during the period of deduction, the total volume of retail sales rose by 15.2%. In the first 11 months of this year, the total value of retail sales rose by 18.2%, while the total volume of sales rose by 15.5%.

The agency said that thanks to continued economic expansion, the improvement of the labor market, and the influx of tourism in Hong Kong, retail sales remained buoyant in January. With the improvement of income and employment prospects, the strong local consumer sentiment and the booming tourism industry in Hong Kong are expected to continue to provide strong support for the retail industry.

The category with the largest increase in sales this month was miscellaneous consumer durable goods (82.6%), electrical appliances and photographic equipment (35.9%), jewellery and clocks and precious gifts (26.1%), footwear and related products. Other clothing accessories (24.9%), miscellaneous consumer goods (13.7%), clothing (10.4%), auto and auto parts (8.3%), supermarket goods (7.7%), furniture and fixtures (7.3%), department store goods (7.1%).

In the three months to the end of November, total retail sales rose 8.4% quarter-to-quarter. The total value of retail sales in October was revised to 27.8 billion yuan, a year-on-year increase of 21.8%, while the total volume of sales rose by 19.7%.