Retail sales value up 11.4%

2018-05-04 07:53:31

The value of total retail sales in March, provisionally estimated at $39.8 billion, rose 11.4% 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 increased 10% year-on-year.

The sales value of jewellery, watches and clocks, and valuable gifts increased 23.1%.

This was followed by sales of apparel (+11.2% in value); commodities in supermarkets (+2%); medicines and cosmetics (+16.5%); electrical goods and other consumer durable goods (+7.8%); commodities in department stores (+17.7%); food, alcohol and tobacco (+4%); other consumer goods, not elsewhere classified (+14.1%); fuels (+5.7%); footwear, allied products and other clothing accessories (+14.4%); furniture and fixtures (+4%); books, newspapers, stationery and gifts (+8%); Chinese drugs and herbs (+6.8%); and optical shops (+11.2%).

The sales value of motor vehicles and parts fell 3.5%.

The department said double-digit growth in retail numbers continued in March due to favourable economic conditions and a further pickup in visitor arrivals.

The near term outlook for retail sales remains positive, helped by positive employment and earnings prospects coupled with buoyant inbound tourism, it added.

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