Welcome!

News Feed Item

Export Confidence Maintained Despite Temporary Shortfall



Hong Kong Trade Development Council's Research Department Revises Export Growth Forecast

Hong Kong, June 25, 2014 - (ACN Newswire) - Hong Kong's exports in the first four months of the year performed weaker than expected, growing only 0.1%, according to Nicholas Kwan, Director of Research at the Hong Kong Trade Development Council (HKTDC), speaking today at a press conference. He added that the HKTDC had revised Hong Kong's export growth forecast for 2014 from 5.5 per cent to 4.5 per cent.

Export Index Dips

Mr Kwan also revealed that the HKTDC Export Index for the second quarter had edged down 0.5 points from the previous quarter, to 47.6. A reading below 50 indicates a pessimistic sentiment and signals a quarter-on-quarter contraction in Hong Kong's exports.

Among industry sub-indices, there were improvements in toys, jewellery and electronics. The respective indices for clothing, machinery and timepieces, however, had softened. The export index for clothing, in particular, dropped below the 40 mark, to 39.4. As to individual markets, the indices for Japan, the United States and the Chinese mainland were all hovering around 50, reflecting the generally neutral sentiments of exporters in these markets. Confidence in the European market was somewhat weaker.

Buoyant Prospects

That said, Mr Kwan believed that there would be improvements in the global trade environment in the second half of the year. He also said that Hong Kong's export prospects remain buoyant.

His point was echoed by Daniel Poon, the HKTDC's Principal Economist (Global Research). "As America's economic recovery gains momentum, the unfavourable effects of the severe cold weather at the beginning of this year are now subsiding. As recoveries in the European Union and Japan are also expected to keep their courses, the developed economies should be the main driving force behind global economic growth."

Focus on Asia

Mr Poon encouraged Hong Kong companies to redouble their sales efforts in traditional markets, while responding to business opportunities in emerging markets. Asia, he emphasised, remains the region with the most economic vibrancy. Turning to specific markets, Mr Poon had the following comments:

- US: Its economic growth is expected to be the strongest among developed countries. The quantitative easing programme may well be withdrawn this year, but the low-interest rate environment is expected to linger.

- European Union: The gradual stabilisation of the debt crises and the extensive implementation of fiscal consolidation and structural reforms among member countries will lead to the continual recovery of the EU economy. Growth resumed in the EU beginning the second quarter of last year and the momentum will be maintained and extended to countries such as Portugal and Spain. Non-euro countries such as the United Kingdom also performed decently.

- Japan: "Abenomics" continues to contribute positively to the economy. The aggressive monetary easing policy is keeping the strength of the yen in check and boosting exports. But the sales tax hikes this year and next will have an adverse impact on consumption.

- Chinese mainland: Although the government has signalled that it may accept slower economic growth, it is still expected to roll out stimulus measures to maintain economic vitality. In the long term, its reforms will boost the economy, while urbanisation will stimulate domestic demand, generating major business opportunities for Hong Kong suppliers.

- ASEAN: The ASEAN Community to be established in 2015 will promote economic growth in member countries and throughout the region. Hong Kong suppliers should exploit opportunities in emerging consumer markets such as Indonesia, while considering markets with low production costs such as Myanmar and Cambodia and exploring the feasibility of setting up production bases in those countries.

- Other emerging markets: The hosting of the FIFA World Cup this year and the Summer Olympics in 2016 is stimulating economic growth in Brazil; outlooks for Mexico, Poland, Hungary, the Czech Republic and Turkey are promising, while Dubai remains a regional trading hub.

Looking at the major industries, Mr Poon said sales prospects should be generally optimistic in the medium term, as the global trading environment improves.

Photo Download: http://filesharing.tdc.org.hk/hktdc/download.php?fid=_phpa7D044

Related Video: http://youtu.be/9KYCFvx9k60
HKTDC Research: www.hktdc.com/research/tc

About HKTDC

A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: http://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Source: HKTDC

Contact:
HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: [email protected]




Copyright 2014 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Pentaho has announced orchestration capabilities that streamline the entire machine learning workflow and enable teams of data scientists, engineers and analysts to train, tune, test and deploy predictive models. Pentaho’s Data Integration and analytics platform ends the ‘gridlock’ associated with machine learning by enabling smooth team collaboration, maximizing limited data science resources and putting predictive models to work on big data faster – regardless of use case, industry, or languag...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...