Rerouted freight boosts HK port as logistics hits series-high 52.5

Hong Kong outpaced both the Asia-Pacific average of 52.3 and the global reading of 51.6.

Hong Kong's Logistics Growth Index rose to 52.5 in September from 52.1 in August, the highest reading in the series, according to the latest report by the World Research Institute (WRI).

A reading above 50 signals expansion.

The figure surpassed both the Asia-Pacific reading of 52.3 and the world reading of 51.6. Hong Kong ranked 19th of 42 economies and 10th of 16 in Asia-Pacific.

WRI notes surging merchandise export volumes and strong transport activity drove the rise, as overseas demand for high-tech goods and electronics sustained freight movement. Faster retail sales growth also supported goods movement.

"Exports did the heavy lifting in September, with overseas buyers keeping up their demand for electronics, and the port was busy as regional transit bottlenecks redirected freight through Hong Kong," said Stephen Poh, principal economist at the World Research Institute.