Hong Kong Retail August 2021

Hong Kong

Hong Kong: Retail sales grow at fastest pace since March in August

October 4, 2021

Retail sales increased 14.7% year-on-year in August (July: +5.0% yoy). August's figure marked the best result since March. Looking at the details of the release, August's pick up was broad-based, with the fuel, supermarkets and food and alcoholic beverages sub-sectors all accelerating. Lastly, jewelry, watches and valuables sales rose at a stronger rate, while clothing and footwear sales gained steam.

Meanwhile, annual average retail sales growth rose to 3.1% in August (July: +0.7%). This signals an improving trend in the retail trade sector.

FocusEconomics Consensus Forecast panelists project real retail sales to increase 14.8% in 2021, which is down 3.0 percentage points from last month’s forecast. In 2022, panelists see retail sales up 10.9%.

Author:, Economist

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Hong Kong Retail Chart

Hong Kong Retail August 2021

Note: Year-on-year changes and annual average variation in %.
Source: Consensus and Statistics Department Hong Kong

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