Hong Kong's toy trade export index fell 9.7 points month-on-month in the third quarter

Release time:

2023-01-11 14:19

Source:

Xinhua News Agency, Hong Kong, September 14 - The Hong Kong Trade Development Bureau announced on the 14th that, affected by the global epidemic, Hong Kong's export index in the third quarter of 2021 fell after rising for five consecutive quarters, dropping 9.7 points to 39 on a month-on-month basis. However, some Hong Kong businesses said that their export business had increased under the epidemic, especially in electronics and toys.
 
Guan Jiaming, Research Director of the Hong Kong Trade and Development Bureau, said at a press conference on the 14th that the repeated epidemic and soaring freight rates have weakened the export confidence of Hong Kong businessmen in the short term. Only about 20% of the Hong Kong businessmen interviewed expect the sales of the traditional Christmas consumption season to rise this year. He said that the continued epidemic and weak global demand remained the key factors affecting Hong Kong's export performance in the next six months.
 
According to the survey of the Hong Kong Trade and Development Bureau, in addition to the epidemic, buyers' reduction or cancellation of orders, logistics and distribution obstacles and rising transport costs are common problems faced by Hong Kong merchants. However, the demand for electronics, toys and other products rose under the epidemic, and the export business of some of the Hong Kong merchants interviewed increased.
 
Guan Jiaming said that many Hong Kong businesses have accelerated the digital transformation under the epidemic, including putting resources to develop online sales channels, conducting digital marketing, making good use of cloud management systems and electronic payment. In the face of various challenges, Hong Kong businessmen generally adopt new business strategies, including opening up the mainland market, expanding online sales and developing new product categories. In terms of export market, businesses have more confidence in the mainland of China and Japan.
 
The Hong Kong Trade and Development Bureau said that although the epidemic has hit the global economy, it has accelerated the development of smart medicine. In recent years, many medical products and services have introduced new technologies. Hong Kong is a hub for medical innovation research and development and a fund-raising center for biotechnology enterprises, and has maintained close contact with the mainland medical market, bringing new opportunities to the medical and health industry in different areas.
 
The Hong Kong Trade and Development Bureau 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 and low index represents a positive or negative market situation, with 50 as the dividing line between prosperity and decline.

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