Statistics Of The Hong Kong SAR Government: The Provisional Valuation Of Total Retail Sales Rose Year On Year In April

The census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) released retail sales data on June 1. The provisional estimate of the value of total retail sales in April 2022 was $30.2 billion (HKD, the same below), up 11.7% year-on-year.

According to the data released on the same day, online sales accounted for 8.2% of the total retail sales value in April 2022. The value of online retail sales for the month was tentatively estimated at 2.5 billion yuan, up 34.8% year on year. After deducting price changes during the period, the provisional estimate of total retail sales for the month increased by 8.1% year-on-year.

According to the data, the provisional estimate of the value of total retail sales in the first four months of 2022 decreased by 3.1% compared with the same period in 2021.

According to the temporary estimation of the sales value of major categories of retailers, the sales value of supermarket goods increased by 5.8% in April 2022 compared with April 2021; Electrical appliances and other unclassified durable consumer goods increased by 40.9%; Jewelry, clocks and precious gifts increased by 13.9%; Food, alcoholic drinks and tobacco increased by 4%; Department store goods increased by 10.7%; Cosmetics and drugs increased by 18.5%; Furniture and fixtures increased by 27.5%; Footwear, related products and other clothing accessories increased by 13.2%; Chinese medicine increased by 27.1%. Besides, Clothing fell 0.3%; Books, newspapers, stationery and gifts fell 10.5%.

A spokesman for the SAR government said that the value of total retail sales in Hong Kong rose significantly in April after two consecutive months of year-on-year declines due to the slowing down of the new crown pneumonia epidemic and the issuance of the first issue of consumer coupons.

Looking ahead, the spokesman said that as long as the epidemic situation remains stable, the retail industry should continue to recover. The consumption voucher scheme and other measures launched by the SAR government will provide further support for consumer demand.

(source: China News Network)