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Apr exports value up 1.1%

The value of Hong Kong’s total goods exports increased to $389 billion in April, up 1.1% compared with the same month last year, the Census & Statistics Department announced today.   The value of imports of goods rose 2.1% to $425.6 billion for the same period.   A trade deficit of $36.6 billion, or 8.6% of the value of imports, was recorded for the month.   Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of total exports decreased 12% while that of imports fell 11.7%.   The Government said epidemic-induced transportation disruptions, though easing somewhat in the latter part of the month, continued to constrain export performance.   It pointed out that exports to the Mainland fell while those to the US and the European Union posted visible growth.   Looking ahead, the global economic outlook has worsened amid rampant inflation in some major economies and monetary policy tightening by respective cen

December retail sales up 6.2%

The value of total retail sales in December, provisionally estimated at $33.3 billion, rose 6.2% compared with the same month in 2020, the Census & Statistics Department announced today.   Of the total retail sales value in December, online sales accounted for 10.8%. Provisionally estimated at $3.6 billion, the value of online retail sales increased 31.5% year-on-year.   After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month increased 3.4% compared with a year earlier.   The value of sales of electrical goods and other consumer durable goods, not elsewhere classified increased 5.5%.   This was followed by sales of jewellery, watches and clocks, and valuable gifts (+24% in value); other consumer goods, not elsewhere classified (+10.8%); commodities in department stores (+2.5%); wearing apparel (+12%); medicines and cosmetics (+9.7%); motor vehicles and parts (+8.7%); fuels (+18.4%); footwear, allied products and other clothing accessories (+15.5%); Chinese drugs and herbs (+4.7%); books, newspapers, stationery and gifts (+7.8%); and optical shops (+25.1%).   The value of sales of commodities in supermarkets decreased 6.8% for the period, followed by sales of food, alcoholic drinks and tobacco (-3% in value); and furniture and fixtures (-4.1%).   The Government said that the value of total retail sales increased further by 6.2% year-on-year in December along with the continued economic recovery, though the growth pace moderated somewhat from the preceding month. For 2021 as a whole, total retail sales value rose 8.1% but was still 27.2% below the level in 2018 before the recession as tourism stayed at a standstill.   Looking ahead, the Government noted that the latest wave of the local epidemic and tightened anti-epidemic measures have weighed on consumption sentiment and posed renewed pressures on the retail sector.   It is essential for the community to work together with the Government to contain the epidemic as soon as possible to create conditions for the continued revival of retail business and the overall economy, it added.
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