Retail sales in Hong Kong fell 14.5 percent year-on-year in January of 2021, the biggest decrease in 6 months amid the 4th wave of coronavirus and distortions in the timing of the Lunar New Year. Local consumer spending normally attains a seasonal high before the Lunar New Year Festival which fell on February 12th this year but on January 25th last year. Still, retail sales have been falling consistently in the last 2 years due to the pandemic and social unrest. In January, biggest decreases were seen in sales of jewellry, watches and clocks (-45 percent) and clothing and footwear (-25.3 percent). A government spokesman pointed out that the business environment of the retail trade will still be difficult in the near term as the epidemic continues to pose a threat and inbound tourism remains frozen. source: Census and Statistics Department, Hong Kong

Retail Sales YoY in Hong Kong averaged 2.38 percent from 2005 until 2021, reaching an all time high of 30.60 percent in February of 2010 and a record low of -46.70 percent in February of 2020. This page provides the latest reported value for - Hong Kong Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.

Retail Sales YoY in Hong Kong is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Hong Kong to stand at 5.50 in 12 months time. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 4.50 percent in 2022, according to our econometric models.

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Hong Kong Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
-14.50 -14.00 30.60 -46.70 2005 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-12-01 08:30 AM Oct -9.3% -13.3% -11%
2021-01-04 08:30 AM Nov -4.7% -9.2% -9%
2021-02-02 08:30 AM Dec -14% -4.7% -7%
2021-03-03 08:30 AM Jan -14.5% -14% -6%
2021-03-30 08:30 AM Feb -14.5% -7%
2021-05-04 08:30 AM Mar
2021-06-01 08:30 AM Apr
2021-06-30 08:30 AM May


News Stream
Hong Kong Retail Sales Continue to Fall
Retail sales in Hong Kong fell 14.5 percent year-on-year in January of 2021, the biggest decrease in 6 months amid the 4th wave of coronavirus and distortions in the timing of the Lunar New Year. Local consumer spending normally attains a seasonal high before the Lunar New Year Festival which fell on February 12th this year but on January 25th last year. Still, retail sales have been falling consistently in the last 2 years due to the pandemic and social unrest. In January, biggest decreases were seen in sales of jewellry, watches and clocks (-45 percent) and clothing and footwear (-25.3 percent). A government spokesman pointed out that the business environment of the retail trade will still be difficult in the near term as the epidemic continues to pose a threat and inbound tourism remains frozen.
2021-03-03
Hong Kong Retail Sales Shrink the Most in 5 Months
Retail sales in Hong Kong plummeted 14 percent year-on-year in December of 2020, the biggest decline since July, after slumping 4.7 percent in the previous month. It is the 23rd straight month of falling retail activity, amid the fourth wave of the local epidemic and the resultant social distancing measures. Sales declined primarily for jewellery, watches and clocks, and valuable gifts (-44.9 percent); medicines & cosmetics (-40.8 percent) and clothing, footwear and allied products (-25.1 percent). For 2020 as a whole, retail sales fell by 25.5 percent, the largest annual decline on record, reflecting the severe blow to consumption-related activities caused by the epidemic.
2021-02-02
Hong Kong Retail Sales Fall the Least in 1-1/2-Year
Retail sales in Hong Kong dropped 4.7 percent year-on-year in November of 2020, the smallest decline since May of 2019, primarily due to a 22.3 percent jump in sales of consumer durable goods. Still, it is the 22nd straight month of falling retail sales as first social unrest and then the coronavirus pandemic kept tourists away. From January to November, retail sales went down 26.6 percent. Looking ahead, a government spokesman pointed out that as inbound tourism remains at a standstill, and the fourth wave of the local epidemic has weighed on local consumption sentiment since the latter part of November, the business environment of the retail trade will remain challenging in the near term.
2021-01-04
Hong Kong Retail Sales Shrink the Least in 16 Months
Retail sales in Hong Kong fell 9.3 percent year-on-year in October of 2020, the least since June 2019 and following a downwardly revised 13.3 percent drop in the previous month, amid a stable coronavirus epidemic situation and a lower base of comparison. Still, it is the 21st straight month of falling retail sales. Sales fell less for fuels (-0.7 percent vs -3 percent in September); food, alcoholic drinks and tobacco (-9.2 percent vs -13.6 percent); clothing and footwear (-6.4 percent vs -13.5 percent). Considering the first ten months of 2020, retail sales declined 28.3 percent. Looking ahead, a government spokesman pointed out that with the fourth wave of the local epidemic spreading widely and quickly, the business environment of the retail trade may deteriorate again in the near term.
2020-12-01

Hong Kong Retail Sales YoY
In Hong Kong, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.