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Hong Kong's retail sales rise 23.5% in Nov

Jan. 4, 2012 (China Knowledge) - The value of total retail sales in Hong Kong surged 23.5% year on year to HK$33.4 billion in November this year, due to local strong consumption demand and vibrant tourist spending, according to statistics released by the Census and Statistics Department.

The growth in retail sales was higher than the revised increase of 23% in October when retails sales stood at HK$34.2 billion.

Sales volume grew 16.9% year on year in November, after rising 15% in October. 

In November, the retail sales volume of miscellaneous durable consumer goods experienced the biggest rise, up 149.1% year on year, followed by a 35.6% surge in the sales volume of electrical goods and photographic equipment, 21.3% increase in jewellery, watches and clocks, and valuable gifts and 17.5% increase in miscellaneous consumer goods. However, the volume of sales of food, alcoholic drinks and tobacco decreased by 7.7% year on year in the month.

In the first 11 months of this year, Hong Kong's total retail sales rose 25% in value or 18.6% in volume compared with the same period in 2010.

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