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Hong Kong Exports on Track for 2018 Growth
Jan 3, 2018 4:05 AM
By Rapaport News
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RAPAPORT... Robust retail sales during the recent holiday period will
lead to growth in Hong Kong’s export market in 2018, the Hong Kong Trade
Development Council (HKTDC) said.
Strong sales figures at the end of 2017 in both traditional
and emerging markets will result in higher shipments of products from Hong Kong
to these locations, the organization predicted in a study it released last week.
US holiday sales increased 4.9% this season, according to
Mastercard SpendingPulse, with the American economy expected to maintain
its momentum in 2018, the HKTDC projected. The council also noted recent growth
in key European markets, as well as Japan and mainland China.
“The positive retail sales growth witnessed towards the end
of 2017 suggests that the traditional markets are now on track for growth,
while the emerging economies are also picking up speed,” said Billy Wong, principal
economist for Greater China at the HKTDC. “Overall, the global retail market
enjoyed healthy festive growth over its traditionally busiest period. The
growth momentum of the global consumer market is likely to be maintained in
2018.”
While the study showed strong overall retail growth, online
sales rose faster than brick-and-mortar sales in many major markets, the
council added.
“The ubiquity of omni-channel purchasing opportunities will
continue to transform the global retail industry, resulting in both new
challenges and new opportunities for Hong Kong exporters,” Wong said.
Image: Estial
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Tags:
Billy Wong, exports, growth, HKTDC, Hong Kong, Hong Kong Trade Development Council, MasterCard SpendingPulse, Rapaport News
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