, Hong Kong

Service industries pick up in Q1 but recovery remains “uneven”

Courier, warehousing and storage saw double-digit growth.

Major service industries registered growth in business receipts in value terms during the first quarter, but the recovery is uneven.

“Most of the major service industries registered year-on-year growth in business receipts in the first quarter of 2021, yet the pace of recovery was uneven across industries,” a government spokesman said in a statement. 

Increases were registered in business receipts of the courier (+47.3), warehousing and storage (+39.1%), financing (except banking) (+28.1%), import/export trade (+27.8%), transportation (+19.1%), accommodation services (+16.5%), wholesale (+12.1%) and real estate (+10.6%) industries. Meanwhile, the administrative and support service industry recorded a 10.9% decrease.

The increases were attributed largely to low bases comparison, adding that business receipts of some sectors are still blow its pre-pandemic levels.

Join Hong Kong Business community

“The economic recovery, coupled with the Government's relief measures, should render support to the services industries in the near term,” the spokesman said.

“Yet, the evolving global pandemic is still a key source of uncertainty, and the business environment for some industries, including those consumption- and tourism-related industries, will remain challenging.”

Moreover, the C&SD noted that analysed by service domain, business receipts of tourism, convention and exhibition services decreased 72.5% YoY; whilst computer and IT services rose 23.7%.

Follow the link for more news on

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Commercial floors at 382 Lockhart Road up for sale
The indicative price is set at $398M, or approximately $8,405 per square foot.
Hong Kong logistics rental softens in H1
Tenants’ adjustment and tariff risks dragged rental prices and activities.
HKMA fines three banks for violating anti-money laundering policies
HKMA ordered fines and formulation of remedial measures.The Hong Kong Monetary Authority (HKMA) has conducted disciplinary action against Indian Overseas Bank, Hong Kong Branch (IOBHK), Bank of Communications (Hong Kong) Limited (BCOM(HK)), and Bank of Communications Co., Ltd., Hong Kong Branch (BCOM) for violating the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong) (AMLO) on 22 July.