Mar. 30, 2012 (China Knowledge) - The value of total retail sales in Hong Kong
grew 15.7% year on year to HK$33.8 billion in February this year, due to improved income conditions and vibrant inbound tourism, according to statistics released by the Census and Statistics Department.
Netting output the effect of price changes over the same period, sales volume grew 10.1% year on year in February.
In the first two months of this year, Hong Kong
's total retail sales rose 15.2% in value or 9.5% in volume compared with the same period in 2011.
During the period from January to February, the retail sales volume of miscellaneous durable consumer goods experienced the biggest rise, up 84.4% year on year, followed by a 51.1% surge in the sales volume of electrical goods and photographic equipment, 10.9% increase in wearing apparel, 7.7% increase in commodities in department stores and 5.5% increase in jewellery, watches and clocks.
However, the sales volume of furniture and fixtures fell 15.6% year on year in the first two months, followed by an 8.1% decrease in the sales volume of food, alcoholic drinks and tobacco.