Strong tourist arrivals continued to support sales of jewellery and other luxury items in Hong Kong in October, latest government data revealed.

According to the city’s Census and Statistics Department, sales of jewellery, watches and clocks, and valuable gifts rose 27.4 per cent in October to HK$5.1 billion (around US$653 million) while January to October figures were up 55 per cent to HK$50 billion (approximately US$6.4 billion) from the same period last year. 

Continued influx of tourists in Hong Kong alongside improved household incomes and other promotional activities meant to spur spending could further strengthen the retail sector. 

Meanwhile, Hong Kong’s exports of jewellery and other gold and silver items rose 4.7 per cent year on year to HK$26.4 billion (around US$3.38 billion) in October. January to October also saw a 3.2 per cent increase to HK$203.9 billion (about US$26.1 billion).

Total exports dipped 11 per cent year on year in the first ten months of the year, but there was a slight improvement of 1.4 per cent in October.

“Exports to mainland China and the US rose, while those to the European Union continued to fall notably. Those to other major Asian markets recorded mixed performance,” the government said.

It added that heightened geopolitical tensions and tight financial conditions will continue to weigh on Hong Kong's exports performance in the near term.