HK Economy- Highlight
18 Sept 2018
The HKTDC Export Index deteriorated sharply amidst the intensifying China-US trade dispute. Overall, the index plunged from its 29-quarter high of 54.1 in 2Q18 to 35.8 in 3Q18, an 18.3 point fall, the largest quarter-on-quarter drop recorded since the index was first compiled back in 2Q06. This indicates that the growth of Hong Kong’s exports may have lost momentum, at least over the near term.
Middle East consumers place great value on products of good quality and creative designs, a major observation at the Lifestyle Expo in Dubai 2018 that held from 25-26 June. Large household sizes in the region drove demand for toys and children’s products, while the fast-growing medical tourism sector in Dubai buoyed the healthcare equipment and technology niche.
Hong Kong’s printing exports amounted to US$728 million in the first half of 2018, up 3.6% from the previous year. The US, the Chinese mainland, the UK and Australia markets together absorbed nearly 70% of the total.