Hong Kong's sales of jewellery, watches and other luxury items fell 3.2 per cent year on year to HK$3.87 billion (around US$493 million) in May, latest government data showed. 

Jewellery sales from January to May were down 8.8 per cent to HK$20.27 billion (approximately US$2.58 billion) compared to the same period in 2024.

Overall retail sales, however, were up 2.4 per cent while January to May figures showed a 4 per cent decline.

The government attributed the improved performance in May 2025 to the sector continuously adapting to changes in consumption patterns. 

"The government's proactive efforts in promoting tourism and mega events, in tandem with the increase in employment earnings and sustained steady growth of China's economy, will help bolster consumption sentiment and support the market," a government spokesman said.

Meanwhile, jewellery exports rose 13 per cent to HK$27 billion (about US$3.43 billion) in May and 5.6 per cent to HK$105.88 billion (around US$13.48 billion) during the first five months of the year. 

Total exports increased by 15.5 per cent in May and 12.6 per cent from January to May.

Exports continued to show resilience, driven by strong demand from China and other Asian markets, according to Hong Kong. Shipments to the European Union saw moderate improvement while those to the US declined. Sustained growth in China's economy and Hong Kong’s enhanced bilateral economic and trade ties could support trade performance moving forward, added the government.