Hong Kong Business News

The value of total retail sales in May, provisionally estimated at $31.3 billion, was up 2.4% compared with the same month in 2024, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate for the month was 1.9% higher year-on-year.

Of the total retail sales figure for the month, online sales accounted for 8.3%. Provisionally estimated at $2.6 billion, the value of online retail sales increased 0.3% compared with a year earlier.

Meanwhile, the value of sales of “other consumer goods not elsewhere classified” increased by 8.9%.

There were also increases in the value of sales in the following categories: commodities in supermarkets (+1.3%); apparel (+0.4%); food, alcoholic drinks and tobacco (+2.8%); commodities in department stores (+6.3%); medicines and cosmetics (+8.7%); electrical goods and other consumer durable goods not elsewhere classified (+0.9%); motor vehicles and parts (+2.7%); books, newspapers, stationery and gifts (+1.6%); and optical items (+1.4%).

By contrast, the value of sales of jewellery, watches and clocks, and valuable gifts decreased by 3.2% for the period. Also down were sales of fuels (-6.9%); footwear, allied products and other clothing accessories (-0.1%); furniture and fixtures (-12%); and Chinese drugs and herbs (-2.2%).

The Government said that retail sales performance saw improvement in May. While the retail sector continues to adapt to the changes in consumption patterns, the Government’s proactive efforts in promoting tourism and mega events, in tandem with the increase in employment earnings and sustained steady growth of the Mainland economy, will help bolster consumption sentiment and support the consumption market.