Provisional statistics of restaurant receipts and purchases for fourth quarter of 2021 and for whole year of 2021
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The value of total receipts of the restaurants sector in the fourth quarter of 2021, provisionally estimated at $25.1 billion, increased by 29.1% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 29.6% to $8.2 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 25.5% in the fourth quarter of 2021 compared with a year earlier.
Analysed by type of restaurant and comparing the fourth quarter of 2021 with the fourth quarter of 2020, total receipts of Chinese restaurants increased by 39.5% in value and 35.6% in volume. Total receipts of non-Chinese restaurants increased by 33.4% in value and 28.9% in volume. Total receipts of fast food shops increased by 12.6% in value and 10.0% in volume. Total receipts of bars increased by 58.8% in value and 65.6% in volume. As for miscellaneous eating and drinking places, total receipts increased by 11.5% in value and 8.8% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 1.6% in value and 0.7% in volume in the fourth quarter of 2021 compared with the preceding quarter.
For 2021 as a whole, the value of total receipts of the restaurants sector was provisionally estimated at $92.7 billion, increased by 16.8% in value and 14.8% in volume compared with the whole year of 2020. Over the same period, the provisional estimate of the value of total purchases of restaurants increased by 16.8% to $30.2 billion.
Analysed by type of restaurant and comparing the whole year of 2021 with the whole year of 2020, total receipts of Chinese restaurants increased by 18.3% in value and 16.4% in volume. Total receipts of non-Chinese restaurants increased by 23.1% in value and 20.7% in volume. Total receipts of fast food shops increased by 8.6% in value and 6.4% in volume. Total receipts of bars decreased by 0.2% in value, but increased by 6.9% in volume. As for miscellaneous eating and drinking places, total receipts increased by 12.3% in value and 10.5% 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 15.4%, 18.1% and 59.9% respectively in October, November and December 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 12.6%, 15.2% and 54.4% respectively in October, November and December 2021, compared with the corresponding months in 2020.
Commentary
A Government spokesman said that business of restaurants continued to improve in the fourth quarter of 2021, thanks to the stable local epidemic situation, improved labour market conditions and the Consumption Voucher Scheme. The value of total restaurant receipts increased markedly by 29.1% in the fourth quarter over a low base of comparison a year ago. On a seasonally adjusted quarter-to-quarter comparison, it increased further by 1.6%. For 2021 as a whole, the value of total restaurant receipts rebounded by 16.8% over the low base of comparison in 2020, but still visibly below the pre-pandemic levels.
The spokesman further pointed out that the latest figures indicated the situation up to end-2021 only. Since entering 2022, business of restaurants has been under renewed pressure due to the latest wave of local epidemic and the tightened social distancing measures in response. The latest round of measures under the Anti-epidemic Fund will provide some timely relief. Business outlook for restaurants in the coming months would hinge crucially on the developments of the local epidemic situation. It is thus essential for the community to work together with the Government to put the local epidemic under control as swiftly as possible.
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 2021 as well as the provisional figures for the fourth 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 third quarter of 2021 and the provisional indices for the fourth 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 fourth 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 March 18, 2022.
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/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/Monday, February 7, 2022
Issued at HKT 16:30
Issued at HKT 16:30
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