The Census and Statistics Department (C&SD) of Hong Kong released its latest figures on retail sales for March 2025 on 2 May 2025.
The value of sales from jewellery, watches and clocks, and valuable gifts declined 3.9 percent year on year to HK$4.06 billion (around $524.2 million) in March 2025. Total value of retail sales from the category decreased 12 percent year on year to HK$12.69 billion (around $1.64 billion) for the first quarter of 2025.
The value of total retail sales in March 2025, provisionally estimated at HK$30.1 billion (around $3.88 billion), decreased by 3.5 percent compared with the same month in 2024. The revised estimate of the combined value of total retail sales in January and February 2025 decreased by 7.8 percent compared with the same period a year earlier. For the first quarter of 2025, it was provisionally estimated that the value of total retail sales decreased by 6.5 percent compared with the same period in 2024.
A government spokesperson said that the value of total retail sales increased further in March 2025 over the preceding month on a seasonally adjusted comparison, and its year-on-year decline continued to narrow. For the first quarter as a whole, the value of total retail sales resumed an increase over the preceding quarter on a seasonally adjusted comparison.
Looking ahead, the spokesperson said the sustained steady growth of the Mainland economy, the government's proactive efforts to boost the consumption market through promotion of tourism and mega events, as well as the increase in employment earnings will continue to support the retail sector. However, the increased level of uncertainty in the global economic outlook and the ongoing impact of the change in consumption patterns will pose challenges to the sector.
14-05-2025
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