Hong Kong Jewelry Sales Hit by Covid and Late New Year

By John Jeffay / March 07, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Sales of jewelry in Hong Kong were depressed again in January, down almost 32 per cent year-on-year. Covid remains a key factor, with new cases hitting a mini-peak towards the end of the month and a two-week quarantine deterring tourists.In addition, the lunar-based Chinese New Year fell later than usual (12 February) which delayed consumer spending from January.Next month's figures from the Census and Statistics Department will combine January and February sales to smooth the New Year bump.Revenue from jewelry, watches, clocks and other valuable gifts for January totaled $433m, a slight increase on December ($397m).Sales for the gift sector were down 54 per cent for the whole of 2020. Total retail sales for all sectors during the month were down 13.6 per cent to $4.2bn. 

Recent News

Global trade tensions ease and inflation continues to decline

May 19, 2025 / www.canadianminingreport.com

Gold stocks down as metal slumps and equities rise

May 19, 2025 / www.canadianminingreport.com

Big Gold has another strong quarter, but some signs growth cooling

May 12, 2025 / www.canadianminingreport.com

Gold stocks nearly regain highs on rising metal price

May 12, 2025 / www.canadianminingreport.com

Gold stocks down as risk on move continues

May 05, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok