Hong Kong’s jewellery exports rose further in December 2020, achieving double-figure growth as major economies’ continued recovery supported market demand.

Exports of jewellery, goldsmiths’ and silversmiths’ wares were up 13.9 per cent to HK$18.71 billion (US$2.41 billion) in December. Hong Kong posted its first exports growth in 2020 in November since the onslaught of Covid-19.

Data from the Census and Statistics Department also showed jewellery imports improving by 13 per cent to HK$23.83 billion (US$3.07 billion). 

Jewellery shipments from January to December however dipped by 16.6 per cent to HK$186.41 billion (US$24.04 billion) while imports shrank by 15 per cent to US$223.41 billion (US$28.82 billion).

Overall exports were up 11. 7 per cent in December but 2020 figures dropped by 1.5 per cent.

According to a government spokesman, continued demand in major markets bolstered December exports, with China, the US and the EU posting the most notable growth. Exports to other Asian markets likewise showed improvement. A weak export performance in the first half of the year however affected the full-year results. 

“While the mainland economy is expected to strengthen further and render support to Hong Kong’s exports, prospects in other major markets will depend on how the pandemic situation evolves. Evolving China-US relations under the new US administration, persistent geopolitical tensions and post-Brexit developments also warrant attention,” noted the Hong Kong government.