HONG KONG, Mar 17, 2022 - (ACN Newswire via SEAPRWire.com) - The HKTDC Export Index fell by 12.5 points to 24.7 in the first quarter of this year, the Hong Kong Trade Development Council (HKTDC) announced today. "The index shrinking for the third consecutive quarter can be taken as a clear indication that the prospects for short-term export growth are expected to weaken further," said HKTDC Director of Research Irina Fan.Hong Kong Trade Development Council Director of Research Irina Fan (L) and Economist Samantha Yim announced the HKTDC Export Index for the first quarter of 2022 at a press conference today (17 March)However, the Trade Value Index painted a more optimistic picture, as it remained in expansionary territory at 52.8, despite its reading having dropped from 57.0 in the previous quarter. "This robust outcome indicates that unit prices in most sectors will continue to rise in the near term, with the toy and electronics sectors leading the way at 56.7 and 53.5 respectively," said Ms Fan.The survey found that, unsurprisingly, a majority (93.1%) of respondents indicated that their businesses had been negatively affected by the COVID-19 pandemic over the past three months, a ...

HONG KONG, Dec 16, 2021 - (ACN Newswire via SEAPRWire.com) - The Hong Kong Trade Development Council (HKTDC) forecasts that Hong Kong exports will grow by 8% in value in 2022, down from the 25% expansion experienced in 2021. An uneven recovery, lingering threats from the COVID-19 pandemic, global supply chain disruptions and logistics bottlenecks, as well as rising concerns over inflation, are expected to restrain growth, HKTDC Director of Research Nicholas Kwan said.HKTDC Director of Research Nicholas Kwan and Assistant Principal Economist (Greater China) Alice Tsang announced the HKTDC Export Index for the fourth quarter of 2021 and gave the HKTDC’s prediction for export growth in 2022 at a press conference today.In the most recent HKTDC Export Index survey, more local exporters (87%, up 20.4 percentage points from the previous quarter) said the pandemic had negatively affected their business. Soaring transport costs (60.2%), disruptions to logistics and distribution (53.2%) as well as difficulties in sourcing raw materials/parts and components (41.4%, up 16.8 percentage points) were cited as major impacts. More than 70% of Hong Kong exporters said they expect 2022 sales will dec...