Retail sales value in March was up 9.4% over a year earlier, at an estimated $15.5 billion.

After netting out the effect of price changes over the same period, the overall retail sales volume rose 9.1%.

The Census & Statistics Department said sustained revival in local consumer demand and vibrant inbound tourism contributed to the strong growth. Another reason is a relatively low base of comparison owing to reduced business caused by the SARS outbreak last year.

The revised estimate of the total retail sales in February is $14.3 billion, up 13.1% in value or 11.3% in volume from a year earlier.

However, retail sales showed greater volatility in the first two months of a year because of the effect of the Lunar New Year. For the first two months combined, retail sales surged 7.9% in value or 6.5% in volume from a year earlier.

Retail sales value up 8.4%

For the first quarter, retail sales swelled 8.4% in value or 7.3% in volume.

Based on the seasonally adjusted series, the overall retail sales volume rose 3.6% in the first quarter as compared to the previous quarter.

Amongst the major types of retail outlets, sales of motor vehicles, having registered year-on-year declines for 12 consecutive months, rebounded sharply to a 47.3% growth in volume, on the back of intensive promotion and attractive price cuts by the trade.

This was followed by sales of electrical goods and photographic equipment (29.9%); jewellery, watches and clocks, and valuable gifts (9.3%); miscellaneous consumer goods (8.2%); wearing apparel (7.8%); miscellaneous consumer durable goods (7.3%); commodities in department stores (6.1%); furniture and fixtures (5.8%); and footwear, allied products and other clothing accessories (4.2%).

On the other hand, sales of commodities in supermarkets dropped 5.6% in volume. Sales of food, alcohol and tobacco and of fuels also fell 3% and 0.1% respectively in volume.