Hong Kong's Retail Sales Increased By 13.8% In July

According to the latest statistics released by the Hong Kong Census and Statistics Department, the total value of retail sales in Hong Kong in July 2008 was HKD24.2 billion, a year-on-year increase of 13.8% — higher than the 11.2% expected.

After netting out the effect of price changes, the total retail sales volume in July 2008 increased by 6.6% compared with the same period last year.

Analyzed by class of retail outlet, the sales volume of electrical goods and photographic equipment grew most rapidly with a rise of 22.2%, followed by sales of motor vehicles and parts with an increase rate of 20.1%; fuels with 18.6%; furniture and fixtures with 8.6%; miscellaneous consumer goods with 8.3%; commodities in department stores with 8%; miscellaneous consumer durable goods with 6.7%; wearing apparel with 5.4%; and footwear, allied products and other clothing accessories with 3.3%.

In the contrast, the sales volume of food, alcohol, and tobacco decreased by 3.1% compared with the same period last year; the sales volume of supermarket commodities decreased 1.4%; and the sales volume of jewelry, watches and clocks, and valuable gifts decreased 0.8%.

At the same time, the total retail sales in the first seven months of 2008 increased by 15.6% in value and 8.9% volume over the corresponding period in 2007.