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Hong Kong’s retail sales fall 13.6 pct in January 2021

Abstract : The value of total retail sales in Hong Kong in January this year, provisionally estimated at 32.6 billion HK dollars, decreased by 13.6 percent compared with the same month in 2020, the Hong Kong Special Administrative Region (HKSAR) government announced on Wednesday.

HONG KONG, March 3 (Xinhua) — The value of total retail sales in
Hong Kong in January this year, provisionally estimated at 32.6 billion
HK dollars (about 4.20 billion U.S. dollars), decreased by 13.6 percent
compared with the same month in 2020, the Hong Kong Special
Administrative Region (HKSAR) government announced on Wednesday.

The Census and Statistics Department of the HKSAR government
Wednesday released the latest figures on retail sales, showing that the
revised estimate of the value of total retail sales in December 2020
decreased by 13.3 percent compared with a year earlier.

A spokesman for the HKSAR government said that retail sales continued
to post a notable year-on-year decline in January 2021 amid the fourth
wave of COVID-19 infection. He said the business environment of the
retail trade will still be difficult in the near term as the epidemic
continues to pose a threat and inbound tourism remains frozen.

“As such, it is pivotal to contain the epidemic. If the COVID-19
Vaccination Programme yields the intended results, it should help lay a
firm foundation for the revival of the retail sector and a broader based
recovery of the economy later in the year,” the spokesman said. Enditem

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Source: Hong Kong’s retail sales fall 13.6 pct in January 2021

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