HONG KONG (Reuters) -Hong Kong’s retail sales fell 3.5% by value in March from a year earlier, marking the 13th consecutive month of declines, government data showed on Friday.
Sales dropped to HK$30.1 billion ($3.88 billion), with the percentage change narrowing from a 13% fall in February.
In volume terms, March retail sales fell 4.8% from a year earlier, compared to a 15.1% decline in February.
For the first quarter, the retail sales value decreased by 6.5% compared to the same period in 2024, and was down 8.3% in volume terms.
The government said the steady growth of the economy in mainland China and efforts to boost consumption through tourism and mega events would provide support to 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,” a government spokesman said in a statement.Sales fell as shoppers spent less and fewer visitors from mainland China stayed in the city, while Hong Kong residents took advantage of the strength of the local currency to shop across the border.
March visitor arrivals stood at 3.82 million, up 12.2% from the same month a year ago, data from the Hong Kong Tourism Board showed. There were 3.67 million arrivals in February, 4.74 million in January and 4.26 million in December.
The number of mainland Chinese visitors stood at 2.75 million in March, up 11.4% from a year ago. That compares to 2.77 million in February, 3.73 million in January and 3.10 million in December.
Sales of jewellery, watches, clocks and valuable gifts fell 3.9% year-on-year in March after a 13.5% drop in February, government data showed.
Sales of clothing, footwear and allied products dropped 10.4% year-on-year in March after a 14.7% decline in February.
($1 = 7.7553 Hong Kong dollars)
(Reporting by Hong Kong newsroom; Editing by Mark Potter and Kate Mayberry)
