Latest reading: Retail sales fell 0.3% month-on-month in seasonally adjusted terms in April (March: +0.2% mom). April’s figure was largely...
Retail Sales in Hong Kong
In the year 2024, the retail sales in Hong Kong was -8.95%, compared to -0.22% in 2014 and 13.76% in 2023. It averaged -2.65% over the last decade.
Hong Kong Retail Chart
Note: This chart displays Retail Sales (ann. var. %) for Hong Kong from 2014 to 2024.
Source: Macrobond.
Hong Kong Retail Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Retail Sales (ann. var. %) | -25.5 | 6.5 | -3.3 | 13.8 | -9.0 |
Decline in retail sales remains stark in August
Latest reading: Retail sales fell 11.9% year on year in August (July: -13.2% yoy). The reading reflected a broad-based decline, with sharp falls recorded for clothing, food, fuel and jewelry sales. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 3.7%, down from July's minus 1.8% reading. Hong Kong retail sales are languishing well below their pre-Covid-19 levels, weighed on by the still-incomplete recovery in tourist arrivals, the strong Hong Kong dollar, and the increasing number of Hong Kongers opting to shop on the mainland due to relatively lower prices there.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hong Kong retail projections for the next ten years from a panel of 1 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable retail forecast available for Hong Kong retail.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hong Kong retail projections.
Want to get access to the full dataset of Hong Kong retail forecasts? Send an email to info@focus-economics.com.
Latest Global Retail News
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