Hong Kong retail sales jumped 20.7% to $43.1b

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According to the Census & Statistics Department, the total retail sales value in April, provisionally estimated at $43.1 billion, rose 20.7% over a year earlier.

After netting out the effect of price changes over the same period, the total retail sales volume increased 19.4%.

The revised estimate of total retail sales value in March grew 9.8% over the same period a year earlier, while the total retail sales volume rose 10.1%.

For the first four months of the year, total retail sales increased 15.5% in value and 15.1% in volume over the same period a year earlier.

Analysed by broad type of retail outlet and comparing April 2013 with April 2012, the volume of sales of jewellery, watches and clocks, and valuable gifts increased 68.8%. This was followed by sales of wearing apparel (4.3% in volume); commodities in department stores (21.6%); commodities in supermarkets (2.4%); medicines and cosmetics (12%); food, alcoholic drinks and tobacco (0.4%).

Other consumer goods, not elsewhere classified (2.4%); miscellaneous consumer durable goods (44.8%); motor vehicles and parts (4.8%); fuels (6.2%); footwear, allied products and other clothing accessories (4.4%); Chinese drugs and herbs (15.8%); and optical shops (9%).

The department said retail sales picked up strongly on a year-on-year basis in April, with the major boost provided by a surge in sales of the jewellery, watches and clocks, and valuable gifts outlets, due to a spike in gold-related sales during the month.

It expects the largely stable labour market conditions and buoyant inbound tourism to remain supportive for the retail business in the near term.