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Hong Kong's retail sales rise 17.3% in Mar

May. 4, 2012 (China Knowledge) - The value of total retail sales in Hong Kong grew 17.3% year on year to HK$36.6 billion in March this year, according to statistics released by the Census and Statistics Department.

The growth in retail sales was higher than the revised increase of 15.6% in February when retails sales stood at HK$33.8 billion.

Netting out the effect of price changes, sales volume grew 13.4% year on year in March, after rising 10.1% in February.  

In March, the retail sales volume of miscellaneous durable consumer goods experienced the biggest rise, up 84.7% year on year, followed by a 59.9% surge in the sales volume of electrical goods and photographic equipment, 12.6% increase in miscellaneous consumer goods, 12.0% increase in allied products and other clothing accessories and an 11.1% increase in wearing apparel.

However, the volume of sales of furniture and fixtures fell 10.4% in March, followed by an 8.8% decrease in sales of motor vehicles and parts and 7.1% decrease in food, alcoholic drinks and tobacco.

In the first three months of this year, Hong Kong's total retail sales rose 15.9% in value or  10.7% in volume compared with the same period in 2011.

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