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HK Mar Total Retail Sales Value Up 12.8% YoY, Beating Forecast; Auto Sales Surge 80%+ on Rush to Buy EVs
The Census and Statistics Department (C&SD) announced that the value of total retail sales in March 2026, provisionally estimated at $33.9 billion, increased by 12.8% compared ...
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HK Mar Total Retail Sales Value Up 12.8% YoY, Beating Forecast; Auto Sales Surge 80%+ on Rush to Buy EVs
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The Census and Statistics Department (C&SD) announced that the value of total retail sales in March 2026, provisionally estimated at $33.9 billion, increased by 12.8% compared with the same month in 2025, ahead of the 9.4% rise in street consensus. The revised estimate of the combined value of total retail sales in January and February 2026 increased by 11.8% compared with the same period a year earlier. For the first quarter of 2026, it was provisionally estimated that the value of total retail sales increased by 12.1% compared with the same period in 2025.

Analyzed by type and compared with February this year, the value of sales of motor vehicles and parts surged 80.8% in March, electrical goods and other unclassified durable consumer goods rose 30.1%, and jewelery, watches and clocks, and valuable gifts increased 27.2%. In contrast, the value of sales of fuels fell 14.2%, Chinese drugs declined 5.4%, and footwear, allied products and other clothing accessories dropped 10.2%.

A government spokesperson said that motor vehicle sales in March were particularly strong, benefiting from the expiry of the first registration tax concession for electric private cars at end-March, which led to a surge in orders ahead of the deadline. Looking ahead, supported by the recovery in local demand, continued growth in inbound tourism, and a favorable macro-financial environment, the short-term outlook for retail sales remains broadly positive.

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