Provisional statistics of restaurant receipts and purchases for second quarter of 2021
**************************************************************************************
The value of total receipts of the restaurants sector in the second quarter of 2021, provisionally estimated at $23.3 billion, increased by 9.9% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 10.1% to $7.6 billion.
After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts increased by 8.9% in the second quarter of 2021 compared with a year earlier.
Analysed by type of restaurant and comparing the second quarter of 2021 with the second quarter of 2020, total receipts of Chinese restaurants increased by 6.0% in value and 5.2% in volume. Total receipts of non-Chinese restaurants increased by 16.0% in value and 15.4% in volume. Total receipts of fast food shops increased by 9.4% in value and 7.2% in volume. Total receipts of bars decreased by 22.9% in value and 16.9% in volume. As for miscellaneous eating and drinking places, total receipts increased by 10.9% in value and 9.8% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 26.9% in value and 26.0% in volume in the second quarter of 2021 compared with the preceding quarter.
Comparing the first half of 2021 with the same period in 2020, total restaurant receipts increased by 0.5% in value and virtually unchanged 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 increased by 28.8% and 8.3% respectively in April and May 2021, but decreased by 2.2% in June 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 increased by 28.1% and 7.2% respectively in April and May 2021, but decreased by 3.3% in June 2021, compared with the corresponding months in 2020.
Commentary
A Government spokesman said that the value of total restaurant receipts turned to a year-on-year increase of 9.9% in the second quarter of 2021, ending the streak of declines in the preceding eight quarters. It was 26.9% higher than the preceding quarter on a seasonally adjusted basis, reflecting that business rebounded along the stable epidemic situation and improved economic conditions. Yet, total restaurant receipts in the second quarter were still visibly lower than the levels before the COVID-19 pandemic in the absence of incoming visitors.
The spokesman further pointed out that if the local epidemic situation remains contained, business of restaurants should continue to improve in the near term alongside the economic recovery. The Consumption Voucher Scheme will also help. Yet, a full recovery of the sector would hinge on the pandemic developments both in Hong Kong and around the world, which have significant bearings on inbound tourism. To play our part, the community needs to work together to keep the epidemic under control and actively participate in the COVID-19 Vaccination Programme.
Further information
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the first quarter of 2021 as well as the provisional figures for the second 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 first quarter of 2021 and the provisional indices for the second 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 second 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 September 20, 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).
Ends/Wednesday, August 4, 2021
Issued at HKT 16:30
Issued at HKT 16:30
NNNN