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January statistic from Hong Kong: export decreased by 23%

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January statistic from Hong Kong:  export decreased by 23%
February 25
13:00 2020

Hong Kong’s latest economic indicators have been made public. The figures, of course, are not encouraging. The fact is that the enclave has shown the maximum decrease in export performance over the past ten years. The figures are unlikely to improve in February, as the coronavirus epidemic does not die down.

Compared to last year, exports have decreased by 22.7%. In January 2019, export volume amounted to $ 34.6 billion. The last time such figures were observed in early 2009.

The conclusion of the first part of the trade agreement between the States and the PRC has stabilized trade in the Asian region. This led to a good increase in Hong Kong’s exports in December 2019. Before this, the indicator had been falling for 13 months.

In January 2020, Hong Kong imports amounted to $ 300 billion, which is 16.4% less than in the same period last year. Imports have not increased for 14 months.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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