The Census and Statistics Department (C&SD) released the latest figures on retail sales today (November 30). The value of total retail sales in October 2023, provisionally estimated at $33.8 billion,… read more
According to the results of the 2022 Annual Survey of Economic Activities – Import/Export, Wholesale and Retail Trades, and Accommodation and Food Services Sectors released today (November 30) by the Census and Statistics Department (C&SD), total receipts (i.e. sales and other receipts) of the import/export, wholesale and retail trades, and accommodation and food services sectors amounted to $5,245.5 billion in 2022, representing a decrease of 5.2% compared with 2021; on a per establishment basis, total receipts decreased by 8.0% compared with 2021 to $34.9 million in 2022.
Operating expenses, cost of goods sold and compensation of employees of the above sectors altogether amounted to $4,803.9 billion in 2022, representing a decrease of 6.3% compared with 2021; on a per establishment basis, they altogether decreased by 9.1% compared with 2021 to $31.9 million in 2022.
Gross surplus of the sectors, which is equal to total receipts less operating expenses, cost of goods sold and compensation of employees, increased by 9.3% over 2021 to $441.6 billion in 2022; on a per establishment basis, gross surplus was $2.9 million in 2022, which increased by 6.1% over 2021. For all these sectors taken together, gross surplus accounted for 8.4% of total receipts in 2022, up by 1.1 percentage points compared with 2021.
Industry value added of the sectors, which is a measure of their total contribution to Hong Kong’s Gross Domestic Product, decreased by 4.0% compared with 2021 to $590.9 billion in 2022; on a per establishment basis, industry value added was $3.9 million in 2022, representing a decrease of 6.8% compared with 2021.
According to the survey results, it was estimated that the aforementioned sectors comprised some 150 400 establishments and engaged about 931 400 persons, or an average of 6.2 persons per establishment, in 2022.
In the import/export trade, total receipts amounted to $4,352.8 billion while operating expenses, cost of goods sold and compensation of employees totalled $3,952.0 billion in 2022. Gross surplus increased from $371.3 billion in 2021 to $400.8 billion in 2022, accounting for 9.2% of total receipts in 2022. Industry value added decreased by 4.4% compared with 2021 to $468.4 billion.
In the wholesale trade, total receipts amounted to $292.4 billion while operating expenses, cost of goods sold and compensation of employees totalled $285.8 billion in 2022. Gross surplus decreased from $8.6 billion in 2021 to $6.6 billion in 2022, accounting for 2.3% of total receipts in 2022. Industry value added decreased by 7.4% compared with 2021 to $20.2 billion.
In the retail trade, total receipts amounted to $452.6 billion while operating expenses, cost of goods sold and compensation of employees totalled $425.6 billion in 2022. Gross surplus increased from $19.9 billion in 2021 to $27.0 billion in 2022, accounting for 6.0% of total receipts in 2022. Industry value added was $54.5 billion in 2022, similar to that in 2021.
In the accommodation services sector which covers hotels, guesthouses, boarding houses and other establishments providing short term accommodation, total receipts amounted to $30.2 billion while operating expenses, cost of goods sold and compensation of employees totalled $27.0 billion in 2022. Gross surplus increased from $0.2 billion in 2021 to $3.2 billion in 2022, accounting for 10.7% of total receipts in 2022. Industry value added increased by 13.7% over 2021 to $12.5 billion.
In the food services sector which mainly covers restaurants, total receipts amounted to $117.4 billion while operating expenses, cost of goods sold and compensation of employees totalled $113.5 billion in 2022. Gross surplus increased from $3.8 billion in 2021 to $3.9 billion in 2022, accounting for 3.3% of total receipts in 2022. Industry value added decreased by 6.8% compared with 2021 to $35.3 billion.
Selected statistics for the import/export, wholesale and retail trades, and accommodation and food services sectors in 2021 and 2022 are shown in the attached table.
More detailed survey results on the import/export, wholesale and retail trades, and accommodation and food services sectors will be given in the reports “Key Statistics on Business Performance and Operating Characteristics of the Import/Export, Wholesale and Retail Trades Sectors in 2022” and “Key Statistics on Business Performance and Operating Characteristics of the Accommodation and Food Services Sectors in 2022”. Users can browse and download these reports at the website of the C&SD as from end-December 2023.
www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080014&scode=550
www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080016&scode=540
For enquiries about the key statistics on business performance and operating characteristics of the import/export, wholesale and retail trades, and accommodation and food services sectors, please contact the Distribution Services Statistics Section of the C&SD (Tel.: 3903 7399; Email: asw@censtatd.gov.hk). read more
According to the results of the 2022 Annual Survey of Economic Activities – Information and Communications, Financing and Insurance, Professional and Business Services Sectors released today (November 30) by the Census and Sta… read more
The Government announced today (November 30) its financial results for the seven months ended October 31, 2023. Expenditure for the period April to October 2023 amounted to HK$413.9 billion and… read more
The Environment and Ecology Bureau released today (November 30) the 2022 greenhouse gas (GHG) emission inventory for Hong Kong.
Hong Kong’s total GHG emissions in 2022 amounted to 33.5 million tonnes of carbon dioxide equivalent (CO2-e), representing a decrease of about 4 per cent compared with 2021. When compared with the peak of about 44.2 million tonnes in 2014, there was a reduction of about 24 per cent.
The per capita GHG emissions in 2022 amounted to about 4.55 tonnes, which was about 3 per cent lower than that in 2021.
Carbon intensity is the measure of GHG emitted per Hong Kong dollar of gross domestic product (GDP). The carbon intensity in 2022 was about 0.012 kilograms CO2-e per Hong Kong dollar GDP, which was about 0.2 per cent, slightly lower than that in 2021. When compared with that of the 2005 base year, carbon intensity has been reduced by about 44 per cent.
Electricity generation continued to be the major source of emissions, amounting to 63 per cent of the total emissions. Other major emission sources were the transport sector (19 per cent) and waste management (8 per cent).
Details of the 2022 GHG emission inventory can be found on the following website:
cnsd.gov.hk/en/climate-ready/ghg-emissions-and-trends.
Hong Kong published Hong Kong’s Climate Action Plan 2050 in 2021, which sets the target to reduce Hong Kong’s total carbon emissions from the 2005 level by half before 2035 and to achieve carbon neutrality before 2050, through the four major decarbonisation strategies and measures, namely net-zero electricity generation, energy saving and green buildings, green transport and waste reduction. read more