Provisional statistics of restaurant receipts and purchases for first quarter of 2023
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The value of total receipts of the restaurants sector in the first quarter of 2023, provisionally estimated at $27.6 billion, increased by 81.7% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 73.8% to $9.0 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 74.0% in the first quarter of 2023 compared with a year earlier.
Analysed by type of restaurant and comparing the first quarter of 2023 with the first quarter of 2022, total receipts of Chinese restaurants increased by 126.9% in value and 117.4% in volume. Total receipts of non-Chinese restaurants increased by 85.8% in value and 77.8% in volume. Total receipts of fast food shops increased by 38.6% in value and 32.6% in volume. Total receipts of bars increased by 712.5% in value and 670.7% in volume. As for miscellaneous eating and drinking places, total receipts increased by 36.7% in value and 31.4% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 3.6% in value and 7.5% in volume in the first quarter of 2023 compared with the preceding quarter.
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 40.4%, 96.6% and 136.6% respectively in January, February and March 2023, compared with the corresponding months in 2022.
After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts increased by 34.6%, 88.5% and 126.5% respectively in January, February and March 2023, compared with the corresponding months in 2022.
Commentary
A Government spokesman said that business of restaurants improved visibly in the first quarter of 2023 as domestic activities returned to normal and visitor arrivals rebounded. The value of total restaurant receipts surged by 81.7% over the low base of comparison a year ago.
Looking ahead, business of restaurants will continue to benefit from the recovery of private consumption and inbound tourism. The disbursement of a new round of consumption vouchers will also help.
Further information
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the fourth quarter of 2022 as well as the provisional figures for the first quarter of 2023.
Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the fourth quarter of 2022 and the provisional indices for the first quarter of 2023.
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 first quarter of 2023 (with breakdown by month) will be released through the website of C&SD (www.censtatd.gov.hk/en/scode540.html) and relevant publications of the Department from June 20, 2023.
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 browse and download the 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 C&SD (Tel: 3903 7401; email: qsr@censtatd.gov.hk).
Ends/Friday, May 5, 2023
Issued at HKT 16:30
Issued at HKT 16:30
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