HONG KONG — The Hong Kong Trade Development Council (HKTDC) Monday announced that the HKTDC Export Index for the third quarter of 2020 went up 6.9 points to 25.1 from the previous quarter.
The HKTDC conducted its latest business confidence survey in August, interviewing 500 local traders from six major industry sectors including electronics, jewellery, timepieces, toys, clothing and machinery. The HKTDC Export Index reflects the prospects of Hong Kong’s near-term export performance. Readings above and below 50 indicate an optimistic or pessimistic outlook respectively.
The survey showed that export indexes for all major sectors rose from their lowest readings in the first half of 2020, especially the machinery sector, toys and electronics.
Exporters’ perception on the performance of major markets remained largely unchanged, with Japan and the Chinese mainland regarded as the most promising markets for Hong Kong exports, followed by the United States, the Association of Southeast Asian Nations and the European Union.
HKTDC Director of Research Nicholas Kwan said at a press conference on Monday that export indexes across all major industries remain in contractionary territory despite the recent rebound, stressing that times will remain tough for Hong Kong’s exporters.