Hong Kong's export index fell 9.7 points month on month in the third quarter
Release time:
2022-10-24
Hong Kong, September 14 (Xinhua News Agency) - The Hong Kong Trade Development Council announced on the 14th that due to the impact of the global epidemic, Hong Kong's export index in the third quarter of 2021 has softened after five consecutive quarters of growth, falling 9.7 points month on month to 39. However, some Hong Kong businesses have stated that their export business has actually increased due to the pandemic, especially in the electronics and toys sectors. On the 14th, Research Director of the Hong Kong Trade and Development Council, Guan Jiaming, stated at a press conference that the repeated pandemic and soaring freight rates have weakened Hong Kong merchants' export confidence in the short term. Only about 20% of surveyed Hong Kong merchants expect sales to increase during the traditional Christmas consumption peak season this year. He said that the continued pandemic and weak global demand remain key factors affecting Hong Kong's export performance in the next six months. According to a survey by the Hong Kong Trade and Development Bureau, in addition to the epidemic, reducing or canceling orders by buyers, obstructing logistics and delivery, and increasing transportation costs are common problems faced by Hong Kong merchants. However, the demand for products such as electronics and toys has increased during the epidemic, leading to an increase in the export business of some interviewed Hong Kong merchants. Guan Jiaming said that many Hong Kong businesses are accelerating their digital transformation under the epidemic, including investing resources to expand online sales channels, conducting digital marketing, making good use of cloud management systems, and electronic payments. Faced with various challenges, Hong Kong businessmen generally adopt new business strategies, including expanding the mainland market, expanding online sales, and developing new product categories. In terms of export markets, merchants have more confidence in mainland China and Japan. The Hong Kong Trade and Development Council stated that although the pandemic has hit the global economy hard, it has accelerated the development of smart healthcare. In recent years, many medical products and services have introduced new technologies. Hong Kong is a hub for medical innovation and research and a fundraising center for biotechnology enterprises, and has maintained close ties with the mainland medical market, bringing new opportunities to the healthcare industry in different fields. The Hong Kong Trade and Development Council conducts a quarterly survey of 500 exporters from six major industries in Hong Kong, including machinery, electronics, jewelry, watches, toys, and clothing, to understand their views on the recent export prospects. The high or low index represents a bullish or bearish market situation, with 50 as the dividing line between prosperity and decline.
Hong Kong, September 14 (Xinhua News Agency) - The Hong Kong Trade Development Council announced on the 14th that due to the impact of the global epidemic, Hong Kong's export index in the third quarter of 2021 has softened after five consecutive quarters of growth, falling 9.7 points month on month to 39. However, some Hong Kong businesses have stated that their export business has actually increased due to the pandemic, especially in the electronics and toys sectors.
On the 14th, Research Director of the Hong Kong Trade and Development Council, Guan Jiaming, stated at a press conference that the repeated pandemic and soaring freight rates have weakened Hong Kong merchants' export confidence in the short term. Only about 20% of surveyed Hong Kong merchants expect sales to increase during the traditional Christmas consumption peak season this year. He said that the continued pandemic and weak global demand remain key factors affecting Hong Kong's export performance in the next six months.
According to a survey by the Hong Kong Trade and Development Bureau, in addition to the epidemic, reducing or canceling orders by buyers, obstructing logistics and delivery, and increasing transportation costs are common problems faced by Hong Kong merchants. However, the demand for products such as electronics and toys has increased during the epidemic, leading to an increase in the export business of some interviewed Hong Kong merchants.
Guan Jiaming said that many Hong Kong businesses are accelerating their digital transformation under the epidemic, including investing resources to expand online sales channels, conducting digital marketing, making good use of cloud management systems, and electronic payments. Faced with various challenges, Hong Kong businessmen generally adopt new business strategies, including expanding the mainland market, expanding online sales, and developing new product categories. In terms of export markets, merchants have more confidence in mainland China and Japan.
The Hong Kong Trade and Development Council stated that although the pandemic has hit the global economy hard, it has accelerated the development of smart healthcare. In recent years, many medical products and services have introduced new technologies. Hong Kong is a hub for medical innovation and research and a fundraising center for biotechnology enterprises, and has maintained close ties with the mainland medical market, bringing new opportunities to the healthcare industry in different fields.
The Hong Kong Trade and Development Council conducts a quarterly survey of 500 exporters from six major industries in Hong Kong, including machinery, electronics, jewelry, watches, toys, and clothing, to understand their views on the recent export prospects. The high or low index represents a bullish or bearish market situation, with 50 as the dividing line between prosperity and decline.
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