Latest reading: Retail sales increased 0.2% in month-on-month seasonally adjusted terms in May, which was a deterioration from April’s 0.8%...
Retail Sales in Hong Kong
The Hong Kong economy recorded an average growth rate of -0.2% in retail sales over the decade to 2024, below East & South Asia's average of -0.2%. In 2024, Hong Kong's retail sales growth was -9%.
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 softens in April
Latest reading: Retail sales declined 3.2% in year-on-year terms in April, which followed March's 4.7% decrease. The figure was the best since February 2024 but still the 14th straight month of contraction, with sales continuing to fall across a broad range of subsectors. As a result, Hong Kong retail sales are still languishing well below their pre-Covid-19 levels, weighed on by the still-incomplete recovery in tourist arrivals and the increasing number of Hong Kongers opting to shop on the mainland.
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
-
Spain: Retail sales growth ebbs in May -
Luxembourg: Retail sales deteriorates in May Latest reading: Retail sales dropped 0.1% month-on-month in seasonally adjusted terms in May (April: +0.9% mom). On an annual basis,... -
Poland: Retail sales growth deteriorates in May Latest reading: Retail sales increased 4.4% year on year in May (April: +7.6% yoy). Looking at the details of the... -
United Kingdom: Retail sales fall at sharpest pace since December 2023 in May Latest reading: Retail sales fell 2.7% month-on-month in seasonally adjusted terms in May (April: +1.3% mom). The outturn marked the... -
United States: Retail sales contract at sharpest pace since March 2023 in May Latest reading: Retail sales dropped 0.9% month-on-month in seasonally adjusted terms in May (April: -0.1% mom), a larger fall than... -
Indonesia: Retail sales rebound in May Latest reading: Retail sales rose 2.6% year on year in May (April: -0.3% yoy). The rebound was partly driven by... -
Switzerland: Retail sales dips in April 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...