Hong Kong Jewelry Sales Jump 42.5% in June

It is the second consecutive month that jewelry sales have risen, following a 34.3-percent rise in sales in May

In addition to a sharp rise in sales of jewelry, sales of high-end watches and clocks and valuable gifts in Hong Kong also posted strong increases.

In the first half of this year, retail jewelry sales totaled $8.4 billion.

Hong Kong's Census and Statistics Department reported that jewelry sales soared by 42.5 percent on June 2012 to $1.38 billion.

It is the second consecutive month that jewelry sales have risen, following a 34.3-percent rise in sales in May.

The rising retail sales are due to strong inbound tourism from Mainland China and upbeat local consumer sentiment.

The figures for July are also expected to show a double-digit increase. However, most merchants expect revenues from visitors from the mainland will decline during the summer, particularly those of luxury goods.

In the January-June period, retail sales of jewelry high-end watches and clocks and valuable gifts came to $8.4 billion – a rise of 32.6 percent on the year-earlier figure.

Retail sales in June overall jumped 14.7 percent from a year before to $5.14 billion.

In the first half of this year, retail sales increased on a year earlier by 15 percent to $32.6 billion.