Booming business: The sales volume of motor vehicles and parts grew 55.9% in July over a year earlier.

The total retail sales value rose to $21.3 billion in July, up 14.2% on the same period last year, the Census & Statistics Department says. The total retail sales volume also rose 12.1%.

The retail sales volume showed vigorous and broad-based growth, reflecting the upbeat consumer sentiment on the back of robust economic fundamentals, rising wages and an improving labour market. The booming stock market and continued rise in visitors also helped.

Rising labour income and further expansion of inbound tourism should remain the favourable factors supporting the retail business.

Vehicle sales

Analysed by type of retail outlet, the sales volume of motor vehicles and parts increased the most, by 55.9% from a year earlier. This was followed by sales of electrical goods and photographic equipment (up 37.4%); jewellery, watches and clocks, and valuable gifts (20%); footwear, allied products and other clothing accessories (19.9%); miscellaneous consumer durable goods (9.4%); miscellaneous consumer goods (8%); commodities in department stores (7.7%); furniture and fixtures (7.3%); wearing apparel (7.1%); commodities in supermarkets (4.1%); and food, alcohol and tobacco (0.6%).

However, sales of fuel dipped 1.5%.

Taking this year's the first seven months together, total retail sales grew 10% in value or 7.9% in volume over the same period a year earlier. The total retail sales volume grew 5.9% in the quarter ending July compared with the preceding three-month period.