Retail sales value up 9.5%
The value of total retail sales in August, estimated at $38.2 billion, increased 9.5% 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 August rose 8.1% year-on-year.
The sales value of jewellery, watches and clocks, and valuable gifts increased 21.6%.
This was followed by sales of commodities in supermarkets (+0.3% in value); commodities in department stores (+11.7%); medicines and cosmetics (+16.3%); wearing apparel (+5.7%); food, alcoholic drinks and tobacco (+6.3%); other consumer goods, not elsewhere classified (+16.1%); motor vehicles and parts (+7.5%); fuels (+10.2%); footwear, allied products and other clothing accessories (+13.6%); furniture and fixtures (+5.5%); Chinese drugs and herbs (+9.3%); and optical shops (+2.8%).
Meanwhile, the sales value of electrical goods and other consumer durable goods, not elsewhere classified decreased by 3.5%, while that of books, newspapers, stationery and gifts also dropped by 2.3%.
The Government said retail sales grew notably over a year earlier in August, supported by the solid local consumption demand and visible growth in visitor arrivals.
Favourable job and income conditions and sustained growth in inbound tourism should provide support to the retail sector in the near term, it added.