Hong Kong exports likely to grow 15% in 2021

The HKTDC reported export confidence rose for the 5th consecutive quarter.

The Hong Kong Trade Development Council (HKTDC) revised up its export forecast to 15% from 5% previously.

The export index rose for the fifth consecutive quarter to 48.7 in the second quarter of 2021, from a record low of 16 in the beginning of the pandemic.

 HKTDC Director of Research Nicholas Kwan linked this to the global revival in trade as well as the resumption of production activities.

Total exports in the first quarter increased by 33.2$ year-on-year to $1.10t with growth of 24.4% registered in April.

 "Led by Mainland China and the United States, the global economy has rebounded steadily, which will continue to bolster Hong Kong's export performance," Kwan said.

Despite, concerns amongst local exporters persist, based on HKTDC’s export index survey.

These concerns include the COVID-19 pandemic (41.5%), softening global demand (16.7%), prolonged trade tensions between the mainland and the United States (13.0%) and continuing pandemic-mandated border closures (11.6%).

"The global economic recovery is likely to be highly uneven. After taking into account a basket of factors, we decided to revise Hong Kong's export forecast in 2021 upward from 5% to 15%, albeit from a low base,” Kwan also said.

“This represents the biggest rebound since the city's recovery from the global financial crisis in 2010." 

Follow the links for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Property sales fell by almost 21% in June
Over 6,290 sale and purchase deals for all units were received for registration.
High-street shop vacancy rises to 16.5% in Q2 22
Amongst core districts, Tsim Sha Tsui had the biggest vacancy rate.   High-street shop vacancy rose 1.3 percentage points from Q122 to hit 16.5% in Q2 22, data from CBRE showed.   The increase in vacancy was likely due to some landlords, who are under limited financial pressure, opting to leave units vacant rather than renting them out.   This practice was most evident in Tsim Sha Tsui and Mong Kok where vacancy rates were the highest, at 23.2% and 18.9%, respectively.   Whilst vacancy rose during the quarter, rents remained flat. According to CBRE, rents were unchanged from Q122 because “cash-rich landlords with strong holding power prevented some units from transacting at lower rents this quarter.”   In addition to rents being unchanged, leasing volume also increased in Q2, signalling an improvement in the retail property sector.   “Improved retailer sentiment underpinned an increase in transaction volume, although many deals signed this quarter involved short-term leases,” CBRE commented.