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Retail sales value up 3.9%

November 30, 2017

The value of total retail sales in October, provisionally estimated at $37.5 billion, rose 3.9% on the same month last year, the Census & Statistics Department announced today.


After netting out the effect of price changes over the same period, the volume of total retail sales increased 3.6% year-on-year.


The sales value of jewellery, watches and clocks, and valuable gifts increased 8.4%.


This was followed by commodities in supermarkets (+0.7% in value); commodities in department stores (+6.2%); apparel (+7%); food, alcohol and tobacco (+8.5%); medicines and cosmetics (+9.9%); other consumer goods, not elsewhere classified (+8.8%); motor vehicles and parts (+1%); fuels (+8.5%); footwear, allied products and other clothing accessories (+2.1%); furniture and fixtures (+3.4%); Chinese drugs and herbs (+5.8%); and optical shops (+1.4%).


The sales value of miscellaneous consumer durable goods decreased 18.7%, followed by electrical goods and photographic equipment (-2.2% in value); and books, newspapers, stationery and gifts (-2.4%).


The department said retail sales grew solidly in October year-on-year due to the optimistic consumer sentiment and continued revival in inbound tourism.


Looking ahead, it said the favourable income and employment situation as well as the ongoing recovery of inbound tourism should continue to support retail business in the near term.