Continued market recovery further supported the jewellery retail sector in Hong Kong in December last year, with sales recording a 24 per cent improvement from Covid-stricken 2020.

Latest data from the city’s Census and Statistics Department showed December sales of jewellery, watches and clocks, and valuable gifts reached HK$3.82 billion (around US$490.48 million) in 2021, demonstrating sustained growth momentum.

Overall jewellery sales in 2021 were up 27.3 per cent to HK$38.77 billion (around US$5 billion) from 2020 – still a far cry however from HK$66.19 billion (around US$8.49 billion) in 2019 and HK$85.35 billion (around US$11 billion) in 2018.

Total sales in all retail categories meanwhile rose 6.2 per cent year on year in December 2021, which the Hong Kong government attributed to continued economic recovery. For 2021, total retail sales were up 8.1 per cent, but was still 27.2 per cent below 2018 levels. 

“The latest wave of local epidemic and the tightened anti-epidemic measures have weighed on consumption sentiment and posed renewed pressures on the retail sector,” a government spokesman said.