Merry Christmas To &Nbsp, Hongkong'S Annual Export Rose 10%

Christmas sales in Hongkong's main export markets are important weathervane for Hongkong's export performance in the coming year.

Hongkong's TDC issued a report yesterday that sales of Christmas around the world were weaker this year than last year.

Pan Yongcai, assistant chief economist of the TDC, said yesterday that the global market downturn made Hong Kong's export prospects not optimistic and maintained a forecast of 1% growth in the gross domestic product next year. At the same time, he estimated that the total value of Hong Kong's exports increased by 10% this year.

According to the statistics of its offices distributed around the world, the TDC said that Christmas sales in various places were weaker than last year, while the performance in emerging markets was generally better than that in traditional markets.

In the traditional market, only the United States and Germany.

Grasp the mainland's need to expand domestic demand

Pan Yongcai said that the slowdown in the traditional market was mainly due to the continuous fermentation of the European debt crisis, the high unemployment rate and the tightening policies adopted by the countries concerned, which led to a cautious attitude towards consumers.

He said that Hongkong exporters should turn their attention to emerging markets such as Poland, Russia and Brazil, and at the same time, grasp the business opportunities of the mainland to expand the domestic demand market.

Christmas sales in America are better than Christmas.

He said that next year, the total value of Hong Kong's exports increased by 1% and the total export volume fell by 3% next year.

He concluded that Hong Kong's export performance was "up first and then down" this year, and the total export value in the first quarter increased by 25%. But in the middle of this year, with the impact of the Japanese earthquake and the debt crisis in Europe and America, he expected that the total export value of Hong Kong will grow by only 10% this year.

Turning to how the Hong Kong businessmen should cope with the sluggish export situation next year, he said that at present, many markets are promoting sales through promotional activities, and the profits of enterprises will continue to be under pressure. At the same time, in the face of rising labor costs and high raw materials, local exporters will face enormous pressure.

New and traditional market two

He believes that enterprises should continue to open up new markets with less pressure to lower prices and actively grasp the business opportunities of the mainland's "12th Five-Year plan" to develop domestic demand. However, he stressed that while developing new markets, we should not abandon traditional markets. We should develop environmentally friendly products and silver products according to the needs of traditional markets for environmental protection and aging. He continued that the global economic downturn and emerging markets are hard to be independent. The difficulty of enterprises in developing new markets will be increased. Especially SMEs need to be vigilant against risks in developing new markets.

As for how to reduce production costs, he said that enterprises can pfer production bases to areas where labor costs are relatively low, but in the long run, it is necessary to improve production mechanization to tackle the problem of rising production costs, while producing high value-added products.

He also said that enterprises could also outsource production processes with high labor costs.