,Hong Kong

Which sector had the highest total receipts for 2020?

The combined total receipts of the sectors decreased by 6.7% YoY to $4,614.7b.

The import and export trade sector had the highest total receipts for 2020, ahead of wholesale trade, accommodation services, and food services sectors, based on the Census and Statistics Department’s (C&SD) Annual Survey of Economic Activities.

The survey said the total receipts from the five sectors amounted to  $4.614t, and of which, $3.789t were from the import and export trade sector.

The second biggest contributor for the year was the retail trade whose total receipts amounted to ​​$419.3b, followed by wholesale trade ($273b), foods and services ($114.3b), and accommodation services ($18.8b).

The overall total receipt amount of the five sectors represents a 6.7% decrease from 2019 and a 6.0% year-on-year decline on a per establishment basis.

CS&D said all sectors combined comprised some 145 500 establishments and engaged about 946 900 persons in 2020.

Apart from the overall total receipt amount, a decline was also recorded in the operating expenses, cost of goods sold, and compensation of employees of the five sectors, dropping by 6.5% to $4.278t in 2020.

Operating expenses, cost of goods sold, and compensation of employees were highest in import and export trade sector anew at $3.486t, followed by retail trade ($398.6b), wholesale trade ($266.8), foods services sector ($106.8b), and accommodation sector ($20.2b).

Gross surplus also declined across all sectors pushing the overall amount to $2.3m, an 8.7% decrease from last year.

In particular, the gross surplus was down to $303.3 in the import and export trade; $6.1 in wholesale trade; $20.7 in retail trade; $1.4b in accommodation services; and $7.5b in food services.

Meanwhile, the five sectors’ industry value or total contribution to HK’s GDP was at $526.7b which is 15.5% lower than the 2019 amount. On a pep establishment basis, the sector’s industry value dropped by 14.8% to $3.6m. 

Per sector this was how much industry value decreased: 

  • Import/export trade - 6.0% to $423.9b
  • Wholesale trade - 17.4% to $18.1b
  • Retail trade - 35.8% to $47.6b
  • Accommodation services sector - 74.5% to $6.1b
  • Food services sector - 41% to $31.0b
Join Hong Kong Business community
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!

About $270m of the aid will be given as one-off cash subsidies to practitioners.
The rules will be implemented on 19 January.
A possible rate hike in March will also positively affect the bank.
Eligible customers who will apply online can get a 20% first-year premium discount.
Chow Tai Fook Jewelry Group from China/HK SAR was amongst the top 10 companies. 
About 76% have expressed their intentions to look for a new job. 
For the quarter ended, there was a $6.6b worth of sales recorded.
HK online sales could grow by 10% in two to three years.
This includes being more lenient in granting leaves for parents of school children.
Non-residents coming from the country to be barred entry.
Wei Mei Tan and Michael Wong will see their roles take effect immediately.
It vowed to align its resources with the Northern Metropolis Development Strategy.
Following this will be a week of self-monitoring and a virus test on the 19th day.