Retail

Hong Kong's Sept 2022 retail sales estimated up by 0.2% at $28.1 bn

02 Nov '22

2 min read

Pic: Shutterstock

Hong Kong’s total retail sales value in September this year was provisionally estimated at $28.1 billion—up by 0.2 per cent compared with the same month in 2021. The revised estimate of this value for August edged down by 0.2 per cent year on year (YoY). For the first nine months this year, this value was provisionally estimated to fall by 1.3 per cent YoY.

Of the total retail sales value in September 2022, online sales accounted for 10.2 per cent, Hong Kong’s The census and statistics department (C&SD) said in a release.

The value of online retail sales in September—provisionally estimated at $2.9 billion—increased by 27.5 per cent YoY.

The revised estimate of online retail sales in August this year increased by 21.6 per cent YoY.

For the first nine months of 2022 taken together, it was provisionally estimated that the value of online retail sales increased by 22.4 per cent YoY.

The value of sales of commodities in supermarkets decreased by 1.6 per cent in September this year over a year earlier.

A government spokesman said that the value of retail sales reverted to a modest year-on-year growth in September.

Looking ahead, the spokesman pointed out that the generally stable local epidemic situation, improved labour market conditions and the Consumption Voucher Scheme will continue to support consumption demand in the near term.

Fibre2Fashion News Desk (DS)