Total retail sales up 18%

Last year’s total retail sales rose 18.3% in value or 15.5 per cent in volume over 2009, the Census & Statistics Department says.

 

The department said growth momentum in retail sales was strong throughout 2010, in tandem with the economic upturn and notable growth in visitor arrivals.
 

The sales volume of miscellaneous consumer durable goods increased the most - 49.8 per cent, followed by motor vehicles and parts at +36.8 per cent; electrical goods and photographic equipment at +28.6 per cent; jewellery, watches and clocks, and valuable gifts at +26 per cent; footwear, allied products and other clothing accessories at +18.3 per cent; wearing apparel at +15.3 per cent; commodities in department stores at +12.5 per cent; furniture and fixtures at +11.9 per cent per cent miscellaneous consumer goods at +9.5 per cent; food, alcoholic drinks and tobacco at +6.2 per cent; commodities in supermarkets at +3.5 per cent; and fuels at +1.5 per cent .

 
The near-term outlook of the retail business should remain favourable, in view of the vibrant inbound tourism and the firm local consumer sentiment upon the much improved job and income prospects.

 

December’s total retail sales, provisionally estimated at $34.9 billion, were up18.5% over a year earlier. After netting out the effect of price changes over the same period, the volume of total retail sales rose 15.9% in December compared with a year earlier.
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