Hong Kong retail sales grow for 15th consecutive month

Hong Kong's retail sales have achieved 15 consecutive months of growth, rising 4.5% year-on-year to HK$31 billion (US$3.95 billion) in July. This follows a revised 4.6% increase in June. For the first seven months of the year, total retail sales value grew by 8.9% compared to the same period last year.

Online retail sales reached approximately $2.8 billion in July, representing 9.1% of the total retail sales value and marking a 9.5% year-on-year increase. This trend suggests a continuing shift in consumer spending toward digital channels.

Sector-specific performance varied significantly. The strongest growth was seen in jewellery, watches, and clocks, which rose 19.7%. Electrical goods and other consumer durables increased by 11.5%, while medicines and cosmetics grew by 7.3%. Conversely, sales of motor vehicles and parts fell by 18.2%, and fuel sales declined by 18%.

A government spokesperson noted that while growth momentum remains resilient, the government continues to monitor evolving external headwinds. Future growth is expected to be supported by rising household incomes, stable labor market conditions, and upcoming mega-events.