Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Provisional statistics of retail sales for November 2020

 



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January 4, 2021 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released the latest figures on retail sales today.

The value of total retail sales in November 2020, provisionally estimated at HK$28.7 billion (US$3.6 billion), decreased by 4.0% compared with the same month in 2019. The revised estimate of the value of total retail sales in October 2020 decreased by 8.7% compared with a year earlier. For the first eleven months of 2020 taken together, it was provisionally estimated that the value of total retail sales decreased by 25.3% compared with the same period in 2019.

 After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in November 2020 decreased by 4.7% compared with a year earlier. The revised estimate of the volume of total retail sales in October 2020 decreased by 9.2% compared with a year earlier. For the first eleven months of 2020 taken together, the provisional estimate of the total retail sales decreased by 26.6% in volume compared with the same period in 2019.

Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 5.6% in the three months ending November 2020 compared with the preceding three-month period, while the provisional estimate of the volume of total retail sales increased by 5.4%.

A government spokesman said that the year-on-year decline in retail sales narrowed further in November, primarily due to the notable increase in sales at retail outlets of consumer durable goods.

Looking ahead, the 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. The Government will monitor the developments closely.


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