HK retail sales rise 19.3 percent on visitor growth
Hong Kong retail sales value rose 19.3 percent in February to HK$35 billion. The growth was supported by a 40.2 percent increase in visitor arrivals that month.
Retail sales in Hong Kong surged by 19.3% in February compared to the previous year, marking the tenth consecutive month of growth as the city continues to benefit from a significant increase in visitor arrivals. According to government data released on Wednesday, the total value of retail sales rose to HK$35 billion, which is approximately $4.47 billion. This performance represents the strongest percentage increase since June 2023, following a 5.5% year-on-year rise in January. The current valuation is supported by an exchange rate of approximately 7.8385 for the USD/HKD currency pair.
In volume terms, February retail sales jumped by 17.5% from the previous year, a sharp rise from the revised 3.5% growth seen in January. This marks the most significant volume gain for the retail sector since March 2023.
