The Census and Statistics Department (C&SD) released the latest provisional figures on restaurant receipts and purchases today (May 6).
The value of total receipts of the restaurants sector in the first quarter of 2021, provisionally estimated at $19.7 billion, decreased by 8.8% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants decreased by 8.0% to $6.4 billion.
After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts decreased by 8.7% in the first quarter of 2021 compared with a year earlier.
Analysed by type of restaurant and comparing the first quarter of 2021 with the first quarter of 2020, total receipts of Chinese restaurants decreased by 18.3% in value and 18.2% in volume. Total receipts of non-Chinese restaurants decreased by 1.3% in value and 0.2% in volume. Total receipts of fast food shops decreased by 4.9% in value and 5.9% in volume. Total receipts of bars decreased by 74.7% in value and 73.2% in volume. As for miscellaneous eating and drinking places, total receipts increased by 5.4% in value and 4.1% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts decreased by 2.1% in value and 2.0% in volume in the first quarter of 2021 compared with the preceding quarter.
To facilitate further understanding of the short-term business performance of the restaurants sector, statistics in respect of the restaurant receipts and purchases in individual months of the reference quarter are also compiled.
Analysed by month, it was provisionally estimated that the value of total receipts of the restaurants sector decreased by 38.7% in January 2021, but increased by 10.1% and 20.7% respectively in February and March 2021, compared with the corresponding months in 2020.
After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts decreased by 38.1% in January 2021, but increased by 10.1% and 20.1% respectively in February and March 2021, compared with the corresponding months in 2020.
Commentary
A Government spokesman said that the value of total restaurant receipts showed a narrower year-on-year decline of 8.8% in the first quarter of 2021, mainly due to a lower base of comparison. Business improved successively in February and March from the difficult situation in January, as the fourth wave of the local epidemic receded. Yet, total restaurant receipts in March was still sizably lower than the levels before the COVID-19 pandemic.
The spokesman further pointed out that the business environment of restaurants will remain challenging in the near term, as the local job and income situation is still under notable pressure and inbound tourism remains in the doldrums. Nonetheless, the recent relaxation of certain restrictions on restaurants with the "vaccine bubble" as the basis should render some support. It is essential for the community to work together to keep the epidemic under control and to actively participate in the COVID-19 Vaccination Programme, so as to lay a more solid foundation for the revival of consumer-facing activities and international travel.
Further information
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the fourth quarter of 2020 as well as the provisional figures for the first quarter of 2021.
Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the fourth quarter of 2020 and the provisional indices for the first quarter of 2021.
Table 4 presents the year-on-year rate of change in total restaurant receipts in value and volume terms based on the original quarterly series, as well as the quarter-to-quarter rate of change based on the seasonally adjusted series.
The revised figures on restaurant receipts and purchases for the first quarter of 2021 (with breakdown by month) will be released through the website of the C&SD (www.censtatd.gov.hk/en/scode540.html) and relevant publications of the Department from June 21, 2021.
The classification of restaurants follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
More detailed statistics are given in the "Report on Quarterly Survey of Restaurant Receipts and Purchases". Users can download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080002&scode=540).
Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of the C&SD (Tel: 3903 7401; email: qsr@censtatd.gov.hk).
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