HK jewellers buck exports downtrend
Hong Kong’s jewellery exports improved in April 2023, moving in the opposite direction of the city’s broader exports industry, latest data from the Census and Statistics Department showed.
Shipments of jewellery, goldsmiths’ and silversmiths’ wares from January to April 2023 rose 0.8 per cent year on year to HK$79.2 billion (approximately US$10.2 billion) while an 11.3 per cent increase was recorded in April alone.
Meanwhile, Hong Kong’s total exports dipped 13 per cent to HK$338.3 billion (about US$43.19 billion) in April compared to the same month last year. Exports to China, the US and the European Union all shrank while those to other major Asian markets saw varying levels of decline.
Hong Kong attributed the drop in exports to relatively weaker advanced economies, adding that this will continue to affect trade. Swift recovery in China’s macroeconomy however should support the exports sector moving forward, the government said.