Retail Sales in Hong Kong
The Hong Kong economy recorded an average growth rate of -2.3% in retail sales in the decade up to 2022, below the 8.2% average for the Asia-Pacific region. In 2022, the retail sales growth rate was -3.3%.
Hong Kong Retail Chart
Hong Kong Retail Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Retail Sales (ann. var. %) | 7.6 | -12.3 | -25.5 | 6.5 | -3.3 |
Retail sales growth moderates in December
Retail sales grew 4.8% in year-on-year terms in December, which followed November's 12.4% increase. December's notable downturn was largely due to a drop in food sales and a sharp slowdown in clothing sales. Meanwhile, annual average retail sales growth rose to 14.7% in December (November: +14.3%).
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.
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