China News Service, Hong Kong, February 1 (Reporter Wei Huadu) The Census and Statistics Department of the Hong Kong SAR Government reported on the 1st that the total retail sales value of Hong Kong in 2023 is provisionally estimated at HK$406.7 billion, a year-on-year increase of 16.2%, while total sales The number of goods is provisionally estimated to increase by 13.8%.
Compared with the whole year of 2022, the sales value of jewelry, watches and luxury gifts increased by 54.9% in 2023, the highest increase, followed by other uncategorized consumer goods which increased by 22.3%; categories such as clothing, department store goods, and drugs and cosmetics also increased recorded an increase.
However, the sales value of supermarket goods fell by 5.7%, the largest decline; categories such as electrical appliances and other consumer durables not classified, fuel, furniture and fixtures also recorded declines.
Wen Jiawei, chief economist and strategist of Dah Sing Financial Group, said that Hong Kong's unemployment rate hovers at a low level, which may provide support to the overall retail industry in 2024. However, changes in the consumption patterns of mainland tourists visiting Hong Kong may weaken the contribution of tourism to Hong Kong's retail industry. , and Hong Kong's asset market is weak, and people may remain cautious about large purchases in the short term. Therefore, retail sales growth is expected to fall back to single digits in 2024.
A spokesman for the SAR government said that the number of tourists visiting Hong Kong should continue to increase as reception capacity continues to recover. The increase in household income will also be beneficial to local consumption. In addition, the SAR government is committed to promoting the hosting of major events and launching a number of activities, which should provide support for the retail business. support. (over)