Retail sales value up 12.9%

July 3, 2018

The value of total retail sales in May, estimated at $40.5 billion, increased 12.9% compared to the same month a year ago, the Census & Statistics Department announced today.


After taking out the effect of price changes over the period, the volume of total retail sales in May increased 11.6% year-on-year.


The sales value of jewellery, watches and clocks, and valuable gifts increased 23.8%.


This was followed by sales of commodities in department stores (+16.7% in value); commodities in supermarkets (+2.8%); apparel (+6.7%); medicines and cosmetics (+18.7%); food, alcohol and tobacco (+5.9%); other consumer goods, not elsewhere classified (+20.1%); electrical goods and other consumer durable goods, not elsewhere classified (+12.8%); motor vehicles and parts (+2.3%); fuels (+17.5%); footwear, allied products and other clothing accessories (+11.9%); furniture and fixtures (+4.8%); books, newspapers, stationery and gifts (+2.5%); Chinese drugs and herbs (+3.9%); and, optical shops (+13.9%).


The department said double-digit growth in retail sales continued in May due to the buoyant local consumption sentiment and a visible increase in visitor arrivals.


The near-term outlook for retail sales remains positive, helped by the robust labour market and sustained growth in inbound tourism, it added.

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