Retail Sales Value Up 12.3%

The value of total retail sales in April, provisionally estimated at $39.5 billion, rose 12.3% 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 11.1% year-on-year.

The sales value of jewellery, watches and clocks, and valuable gifts increased 24.6%.

This was followed by sales of apparel (+6.3% in value); medicines and cosmetics (+17.9%); commodities in supermarkets (+1.1%); commodities in department stores (+12.6%); electrical goods and other consumer durable goods (+17.7%); other consumer goods, not elsewhere classified (+17.1%); food, alcohol and tobacco (+3.9%); motor vehicles and parts (+16.4%); fuels (+10%); footwear, allied products and other clothing accessories (+9.4%); furniture and fixtures (+1.4%); books, newspapers, stationery and gifts (+0.3%); Chinese drugs and herbs (+2.3%); and, optical shops (+8%).

The department said double-digit growth in retail numbers continued in April due to strong local consumer spending as well as buoyant inbound tourism.

It added, favourable job and income prospects and sustained growth in inbound tourism should continue to support retail sales in the near term.