The total value of retail sales in Hong Kong in December last year was an estimated HK$32.8 billion ($4.2 billion), a 9.7% decrease compared to December 2023, government data shows. After adjusting for price changes, the estimated volume of retail sales for the month fell by 11.5% YoY. Additionally, the estimated total value of retail sales for the entire year of 2024 is HK$376.8 billion ($48.1 billion), a 7.3% decline compared to 2023. A government spokesperson noted that the further decline in December’s retail sales value partly reflects the impact of more citizens traveling abroad during the holiday season.