Hongkong Is Relatively Optimistic About Exporting Or Reducing Individual Industries.

The Trade Development Council (TDC) announced that the export index in the second quarter of this year recorded 37.2, almost unchanged from the 37.3 in the first quarter.

Despite the initial signs of stabilization in the external economic environment, the number of exports from the beginning of this year has been disappointing. Hongkong's TDC has adjusted its forecast for Hongkong's total exports in 2016, from zero growth to 4%.

Guan Jiaming, research director of Hongkong's TDC, said that the performance of individual industries was relatively optimistic, with the export index of machinery and toys rising to more than 40 for the first time this year, while the jewelry industry faced strong resistance, and the export index fell to 21.6, the lowest in the second quarter of 2009.

Guan Jia Ming emphasized that

The index shows signs of stabilization, reflecting the stability of Hongkong exporters' confidence, but exporters are still pessimistic about export prospects in terms of short-term export performance.

The overall external macro environment is expected to gradually stabilize and benefit Hongkong's exports.

Therefore, although individual industries will continue to face certain challenges and difficulties, the prospects for sales will improve in the medium term.

Guan Jiaming pointed out that exporters' confidence in major markets remains prudent.

Among the 4 main markets, Japan's sub export index was the highest, maintaining 47.4, the same as the first quarter, followed by the US and the mainland of China, 45.8, while the European Union recorded 44.3.

Guan said that in the face of the unstable external environment and weak global demand in 2016, Hongkong's export performance this year is far lower than expected. The total exports in the first 4 months are down 5.6% compared with the same period last year.

But there are signs that

Picking up growth momentum, China's mainland economy has stabilized slightly, stabilizing oil prices and breathing space for commodity exporters. It is expected that the overall external demand will gradually become clearer and the global trade environment will improve in the medium term.

Pan Yongcai, chief economist of the Hongkong World Trade Organization's global market, believes that developing countries in Asia will continue to be the most dynamic regions in the world.

The mainland will seek more sustainable and stable economic development, and supply side reform will gradually release the market potential.

The national "one belt and one way" initiative will promote economic upgrading and strengthen integration with the world economy.

In addition, India is also a bright spot that can not be ignored. Domestic demand continues to rise, driving economic growth and providing a large population with sufficient labor force.