Reversing the trend of a decline seen in the last three years, overall retail sales in Hong Kong across all categories rose by a modest 2.2% during 2017 to reach HK$ 446,124 million, according to statistics released by the Census & Statistics Dept of the HK government.

Jewellery retail sales too registered positive growth of 5.2% year-on-year to reach  HK$ 75.05 million, the statistics revealed.

The annual retail performance was boosted by a strong show in December which marked the tenth consecutive month of growth. Official figures revealed a 5.8% growth in value and a 4.3% growth in volume terms in December 2017 as compared to the same month a year ago.

Durng the month, total retail sales were HK$ 44,840 million as compared to HK$ 42,391 mn a year ago, and HK$ 38,718 mn in November 2017, with almost every retail category registering growth during   the month.

Sales of jewellery, watches and other valuable gifts rose by 6.3% in December year-on-year, the sixth consecutive monthly increase.

In a statement, the Hong Kong Retail Management Association (HKRMA) said that its member companies remain positive on the sales and estimate single digit growth performance in January-Feruary 2018.