Retail sales value up 5.9%

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Retail sales value up 5.9%

The value of total retail sales in October, estimated at $39.7 billion, increased 5.9% compared to the same month a year ago, the Census & Statistics Department announced today.

After taking out the effect of price changes over the period, the volume of total retail sales in October rose 5.2% year-on-year.

The sales value of jewellery, watches and clocks, and valuable gifts increased 3.3%.

This was followed by sales of electrical goods and other consumer durable goods, not elsewhere classified (+16.1% in value); commodities in department stores (+3.5%); wearing apparel (+2.3%); medicines and cosmetics (+14.9%); other consumer goods, not elsewhere classified (+12.7%); motor vehicles and parts (+13.6%); fuels (+10.3%); footwear, allied products and other clothing accessories (+9.3%); books, newspapers, stationery and gifts (+5.8%); furniture and fixtures (+0.8%); Chinese drugs and herbs (+0.6%); and optical shops (+3.2%).

Meanwhile, the sales value of commodities in supermarkets decreased by 0.9%, while that of food, alcoholic drinks and tobacco dropped 2%.

The Government said growth in retail sales picked up somewhat in October due to the faster increase in visitor arrivals and continued income growth.  

It added favourable job market conditions and strong inbound tourism should continue to support the retail sector in the near term.

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