Hong Kong's overall export growth is expected to slow to 8% in 2022 from 25% this year, the Hong Kong Trade Development Council said on the 16th. Data show that under the low base effect, Hong Kong's export volume increased by 26.7% year-on-year in the first 10 months of this year. Guan Jiaming, research director of the TDC, said that Hong Kong's exports increased significantly, much higher than the global average, reflecting Hong Kong's strong export resilience. However, the continuation of the epidemic and the increase in market uncertainties may cast a shadow over Hong Kong's exports next year. Guan Jiaming said that due to the lack of low base effect next year, the forecast of Hong Kong's export growth of 8% is reasonable, or can reach low double-digit growth, but businesses are cautious about the prospect. He pointed out that the uneven pace of global recovery, the continuous recurrence of the epidemic, the interruption of global supply chains and the continuation of logistics bottlenecks, coupled with increasing inflation concerns, are expected to suppress the increase. The TDC's export index reflects the recent export performance and the sentiment of Hong Kong businessmen. 50 is the dividing line between prosperity and decline. In November, the TDC visited 500 exporters from the six major industries of clothing, electronics, jewelry, machinery, watches and toys in Hong Kong. The survey shows that the export index in the fourth quarter of this year was 37.2, down 1.8 points from the previous quarter, indicating that under the influence of the new crown variant virus, market uncertainties are increasing, which may continue to weaken the confidence of Hong Kong exporters in the short term. Mr Kwan said that the entry into force of the regional comprehensive economic partnership agreement (RCEP) on January 1 next year would bring positive factors. By phasing out tariffs, RCEP would further develop and integrate regional supply chains and accelerate the specialization of Asian production, which would add new impetus to consolidating Hong Kong's role as an international trade hub. (Xinhua News Agency)
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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