Retail sales rise 4.5% YoY to $31b in July

Sales value grew 8.9% in the first seven months of the year. 

Hong Kong's retail sales value grew 4.5% year-on-year (YoY) to $31b in July, following a revised 4.6% rise in June, according to provisional figures from the Census and Statistics Department.

For the first seven months (7M), retail sales value increased 8.9% compared with the same period a year earlier.

However, total sales value fell 1.7% in the three months ending July on a seasonally adjusted basis. Volume declined 0.1% over the same period.

Online retail sales reached an estimated $2.8b during the month, accounting for 9.1% of total sales. 

By retail category, sales of jewellery, watches and clocks, and valuable gifts recorded the largest jump at 19.7% YoY. 

Sales of electrical goods and other consumer durables climbed 11.5%, whilst other consumer goods rose 10.5%.

Medicines and cosmetics sales increased 7.3%, whilst food, alcoholic drinks and tobacco edged up 1.7%.

Meanwhile, sales of motor vehicles and parts fell 18.2%, followed by fuels at 18% and Chinese drugs and herbs at 13.7%. Wearing apparel sales declined 1.8%, whilst furniture and fixtures went down 2.4%.

After adjusting for price changes, total retail sales volume increased 2.3%. Volume also rose 6.6% in the first 7M.