Hongkong'S First Export Decline In Eight Years

Hongkong's Hong Kong Trade Development Council said in a report on Monday that the export value of Hongkong will decline by 6% in 2009 as the global financial crisis has pressure on exports, which is the first time that Hongkong has seen a decline in exports since 2001.

(b) the Council previously predicted that Hongkong's exports increased by 5.5% in 2008, down from 9.2% in 2007.

Hongkong exports in October increased by 9.4% to HK $276 billion 900 million compared with the same period last year, while exports increased by 8% during the 1-10 months.

Liang Haiguo, chief economist at Hongkong Trade Development Council, said at a press conference on Monday that the difficult external environment, coupled with global financial market turmoil and global economic recession, will lead to a decline in Hongkong exports after years of sustained growth in the coming year. Edward Leung

The economic downturn in the main export markets of the United States, Europe and Japan has had a serious impact on Hongkong,

Hongkong's exports to the above area account for 30% of Hongkong's total exports. If it is calculated on the basis of exports of consumer goods alone, the proportion will be 60%.

(webtextiles) (E04)