Hong Kong's GDP slumps 8.9 percent year on yearChristian Fernsby ▼ | May 16, 2020
The Hong Kong government on Friday published revised economic figures for the first quarter of the year.
GDP Hong Kong
Topics: Hong Kong GDP
Tourist arrivals dived 99.9 percent year-on-year in April to 4,125 visitors, Tourism Board data showed.
About 25 percent of retail stores in the city were expected to close by the end of the year, despite fresh government relief measures, according to the Hong Kong Retail Management Association.
The value of total retail sales plunged by 35.0 percent in the quarter compared with the same period in 2019. The volume of retail sales fell by 36.9 percent year-on-year, the largest decline for a single quarter on record. ■