Statistics

Hong Kong's retail sales value up 28%

(Xinhua)
Updated: 2011-03-04 11:15

HONG KONG - Hong Kong's total retail sales value in January, provisionally estimated at HK$37.6 billion ($4.83 billion), rose 28.2 percent over a year earlier, the city's Census and Statistics Department said Thursday.

After netting out the effect of price changes over the same period, the volume of total retail sales increased 23.6 percent on the same month last year.

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The revised estimate of the value of total retail sales in December, at HK$34.9 billion, increased 18.6 percent on December, 2009, while the volume of total retail sales increased 16 percent.

The department said the timing of the Chinese New Year, which fell in early February this year but in mid-February last year, could be contributory to the more robust growth in the latter part of January.

The stellar retail sales performance in recent months mainly reflects the prevailing upbeat local consumer sentiment and vibrant inbound tourism.