Hong Kong retail sales rise 4.1 per cent annually in January but authorities warn of tough months to follow under strict anti-epidemic measures

Uptick in retail sales recorded in January marks 12 consecutive months of growth for sector

But figure does not reflect full impact of rising Covid-19 cases and tightening of anti-epidemic measures, government spokesman says

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The retail sector saw positive growth in January despite the looming impact of the city’s coronavirus outbreak. Photo: Felix Wong

Published: 8:55pm, 4 Mar 2022Updated: 12:04am, 5 Mar 2022

Hong Kong’s retail sales rose 4.1 per cent year on year in January with the government having warned the figure was not a reflection of the current impact of strict social-distancing measures during the ongoing coronavirus outbreak.

Retail sales in January were valued at HK$33.9 billion (US$4.33 billion), a 4.1 per cent year on year increase, according to provisional figures released by the Census and Statistics Department on Friday.

Online transactions accounted for 9 per cent of the total retail sales during the month, which was estimated at HK$3.1 billion, and grew by 29.8 per cent compared with the same period in 2021.

The uptick in retail sales recorded in January also marked 12 consecutive months of growth for the sector. Last year, consumer sentiment improved with the easing of social-distancing measures and the distribution of digital spending vouchers worth HK$5,000 to eligible residents in the second half of 2021.

The value of total retail sales reached HK$353 billion in 2021, an annual increase in value by 8.1 per cent and by a volume of 6.5 per cent.

Online sales also increased by 39 per cent from 2020, reaching a total HK$28.6 billion.