Total retail sales up 18.3% in 2010

The sales volume of miscellaneous consumer durable goods registered the highest growth.

According to Hong Kong Information Services Department, last year’s total retail sales rose 18.3% in value or 15.5% in volume over 2009, said the Census & Statistics Department. 

The sales volume of miscellaneous consumer durable goods increased the most - 49.8%, followed by motor vehicles and parts (+36.8%); electrical goods and photographic equipment (+28.6%); jewellery, watches and clocks, and valuable gifts (+26%); footwear, allied products and other clothing accessories (+18.3%); wearing apparel (+15.3%); commodities in department stores (+12.5%); furniture and fixtures (+11.9%); miscellaneous consumer goods (+9.5%); food, alcoholic drinks and tobacco (+6.2%); commodities in supermarkets (+3.5%); and fuels (+1.5%).

The department said growth momentum in retail sales was strong throughout 2010, in tandem with the economic upturn and notable growth in visitor arrivals.

The near-term outlook of the retail business should remain favourable, in view of the vibrant inbound tourism and the firm local consumer sentiment upon the much improved job and income prospects.

December’s total retail sales, provisionally estimated at $34.9 billion, were up18.5% over a year earlier. After netting out the effect of price changes over the same period, the volume of total retail sales rose 15.9% in December compared with a year earlier.