Volume of sales of jewellery, watches & clocks rise in Feb
02 Apr '07
3 min read
The Census and Statistics Department (C&SD) released the latest figures on retail sales.
The value of total retail sales in February 2007, provisionally estimated at $20.8 billion, increased by 28.4% compared with a year earlier. After netting out the effect of price changes over the same period, the volume of total retail sales increased by 25.0% in February 2007 compared with a year earlier.
The revised estimate of the value of total retail sales in January 2007, at $20.8 billion, decreased by 1.5% over January 2006, while the volume of total retail sales decreased by 4.9%.
In interpreting these figures, it should be noted that, affected by the difference in timing of the Lunar New Year, retail sales tend to show greater volatility in the first two months of a year. The Lunar New Year fell on February 18 this year but on January 29 last year. It is therefore more appropriate to compare the retail sales figures for January and February taken together.
Taking the first two months of 2007 together, total retail sales increased by 11.4% in value or 8.0% in volume over the same period a year earlier.
Analysed by type of retail outlet and comparing January and February 2007 combined with a year earlier, the volume of sales of jewellery, watches and clocks, and valuable gifts increased the most, by 14.5%. This was followed by sales of footwear, allied products and other clothing accessories (+11.2%); furniture and fixtures (+9.0%); wearing apparel (+3.8%).
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