The Census and Statistics Department (C&SD) released the latest provisional figures on restaurant receipts and purchases today (February 4).
The value of total receipts of the restaurants sector in the fourth quarter of 2020, provisionally estimated at $19.5 billion, decreased by 25.1% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants decreased by 24.5% to $6.3 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 25.4% in the fourth quarter of 2020 compared with a year earlier.
Analysed by type of restaurant and comparing the fourth quarter of 2020 with the fourth quarter of 2019, total receipts of Chinese restaurants decreased by 35.4% in value and 35.7% in volume. Total receipts of non-Chinese restaurants decreased by 20.0% in value and 19.2% in volume. Total receipts of fast food shops decreased by 15.1% in value and 16.8% in volume. Total receipts of bars decreased by 46.5% in value and 45.6% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 10.1% in value and 11.7% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 13.3% in value and 11.6% in volume in the fourth quarter of 2020 compared with the preceding quarter.
For 2020 as a whole, the value of total receipts of the restaurants sector was provisionally estimated at $79.4 billion, decreased by 29.4% in value and 30.0% in volume compared with the whole year of 2019. Over the same period, the provisional estimate of the value of total purchases of restaurants decreased by 28.4% to $25.8 billion.
Analysed by type of restaurant and comparing the whole year of 2020 with the whole year of 2019, total receipts of Chinese restaurants decreased by 38.2% in value and 38.8% in volume. Total receipts of non-Chinese restaurants decreased by 25.6% in value and 25.2% in volume. Total receipts of fast food shops decreased by 19.1% in value and 20.5% in volume. Total receipts of bars decreased by 47.9% in value and 49.2% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 19.5% in value and 21.0% in volume.
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 15.9%, 18.6% and 39.5% respectively in October, November and December 2020, compared with the corresponding months a year earlier.
After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts decreased by 16.4%, 19.2% and 39.4% respectively in October, November and December 2020, compared with the corresponding months a year earlier.
Commentary
A Government spokesman said that the value of total restaurant receipts continued to decline sharply by 25.1% year-on-year in the fourth quarter of 2020, though the decline narrowed from the record fall registered in the preceding quarter. Business showed rather visible improvement in October and November, but deteriorated again in December when the fourth wave of local epidemic led to a renewed tightening of social distancing measures. For 2020 as a whole, the value of total restaurant receipts plummeted by 29.4%, the largest annual decline on record.
The spokesman further pointed out that the business environment of restaurants will stay challenging in the near term, as the fourth wave of local epidemic continues to hit dining-out activities while inbound tourism remains at a standstill. Therefore, keeping the epidemic under control at the soonest possible with the concerted effort of the whole community is of pivotal importance to the recovery of such hard-hit sectors as the restaurants sector. The Government will monitor the developments closely.
Further information
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the third quarter of 2020 as well as the provisional figures for the fourth quarter of 2020.
Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the third quarter of 2020 and the provisional indices for the fourth quarter of 2020.
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 fourth quarter of 2020 (with breakdown by month) will be released through the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department from March 19, 2021.
The classification of restaurants follows the Hong Kong Standard Industrial Classification (HSIC) 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/hkstat/sub/sp320.jsp?productCode=B1080002).
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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