Provisional statistics of restaurant receipts and purchases for second quarter of 2023
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The value of total receipts of the restaurants sector in the second quarter of 2023, provisionally estimated at $27.4 billion, increased by 24.3% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants increased by 19.5% to $8.8 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 19.4% in the second quarter of 2023 compared with a year earlier.
Analysed by type of restaurant and comparing the second quarter of 2023 with the second quarter of 2022, total receipts of Chinese restaurants increased by 29.2% in value and 24.4% in volume. Total receipts of non-Chinese restaurants increased by 20.5% in value and 15.9% in volume. Total receipts of fast food shops increased by 19.3% in value and 14.1% in volume. Total receipts of bars increased by 122.7% in value and 110.8% in volume. As for miscellaneous eating and drinking places, total receipts increased by 21.4% in value and 17.1% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts increased by 2.7% in value and 3.9% in volume in the second quarter of 2023 compared with the preceding quarter.
Comparing the first half of 2023 with the same period in 2022, total restaurant receipts increased by 47.7% in value and 41.8% 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 43.5%, 17.6% and 15.4% respectively in April, May and June 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 37.7%, 13.1% and 11.0% respectively in April, May and June 2023, compared with the corresponding months in 2022.
Commentary
A Government spokesman said that business of restaurants continued to improve in the second quarter of 2023. The value of total restaurant receipts increased visibly by 24.3% over a year ago, and was 2.7% higher than the preceding quarter after seasonal adjustment.
Looking ahead, business of restaurants should continue to improve in the near term. Visitor arrivals are expected to increase further along with the recovery of transportation and handling capacity. The improving labour market and the disbursement of the second instalment of consumption vouchers will provide support to local consumption.
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 2023 as well as the provisional figures for the second 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 first quarter of 2023 and the provisional indices for the second 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 second 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 September 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/Thursday, August 3, 2023
Issued at HKT 16:30
Issued at HKT 16:30
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