Uptick in HK exporter sentiment

Business | 14 Sep 2020 4:58 pm

The Hong Kong Trade Development Council said the HKTDC Export Index gained by  6.9 points to 25.1 in the third quarter, indicating that the exporter sentiment may be moderating.

It was the second consecutive quarter of growth after it hit a low of 16.

The survey interviewed about 500 enterprises related to exports.

HKTDC director of research, Nicholas Kwan, said there are uncertainities, such as US elections. “Some exporters do not dare take orders.'' 

The economist for Greater China research team, Samantha Yim, said almost all sub-indexes picked up, and only the employment sentiment fell to 39.8, a four-year low.

Offshore trade is expected to improve in the following months. Sentiment was up by 11.4 points to 21.7 in the third quarter.

Exporters have the most confidence in the Japan market while mainland China market has  improved most. Although the price outlook is expected to improve, the goods prices will face downward pressure.

Forty percent expect a negative  export performance over the near term.

However, only 3.6 percent think the US removal of Hong Kong’s preferential status represents the biggest threat to  exports.

 



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