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Apr exports value down 13%

The value of Hong Kong's total exports decreased to $338.3 billion in April, down 13% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods decreased 11.9% to $374.9 billion for the same period.   A trade deficit of $36.6 billion, or 9.8% of the value of imports, was recorded in April.   Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports rose 15.4%, while that of imports increased 10.7%.   The Government noted that the value of merchandise exports declined further from a year earlier in April. Exports to the Mainland, the US and the European Union all shrank and exports to other major Asian markets recorded decreases of varying degrees.   Looking ahead, it added that the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the Mainland economy should

March retail sales up 20.1%

The value of total retail sales in March, provisionally estimated at $27.6 billion, rose 20.1% compared with the same month in 2020, the Census & Statistics Department announced today.   Of the total retail sales value in March, online sales accounted for 7.7%. Provisionally estimated at $2.1 billion, the value of online retail sales increased 43.3% year-on-year.   After netting out the effect of price changes over the same period, the volume of total retail sales for the month increased 19.8% compared with a year earlier.   The value of sales of other consumer goods, not elsewhere classified increased 35.2%.   This was followed by sales of electrical goods and other consumer durable goods, not elsewhere classified (+44.8% in value); jewellery, watches and clocks, and valuable gifts (+81%); wearing apparel (+77.4%); commodities in department stores (+2.2%); medicines and cosmetics (+18%); motor vehicles and parts (+23.1%); fuels (+18.8%); furniture and fixtures (+12.5%); footwear, allied products and other clothing accessories (+64.1%); books, newspapers, stationery and gifts (+19.2%); Chinese drugs and herbs (+27.7%); and optical shops (+29.1%).   The value of sales of commodities in supermarkets decreased 16.1% for the period, followed by sales of food, alcoholic drinks and tobacco (-1.8% in value).   The Government said retail sales registered a notable year-on-year increase in March, mainly due to an exceptionally low base of comparison last year. For the first quarter as a whole, retail sales volume rose 7.2% over a year earlier, but was still far below that in the first quarter of 2019 by 32.5%.   Looking ahead, the Government pointed out that while local consumption sentiment saw some improvement following the gradual relaxation of social distancing measures since mid-February, the near-term outlook for the retail trade is still challenging as inbound tourism remains in the doldrums.   To attain a stronger revival of the retail trade and a broader-based economic recovery, it is essential for the community to work together to keep the epidemic under control and to actively participate in the COVID-19 Vaccination Programme, it added.
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