Hong Kong's electronics exports surge by 37% in Q1

16:32, May 13, 2010      

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With the strong rally in exports of non-necessities thanks to the global economic recovery and increased overseas demand, Hong Kong's electronics exports were up as high as 37 percent in the first quarter of 2010, said Daniel Poon, assistant chief economist of the Hong Kong Trade Development Council (HKTDC). This will be a boon to Hong Kong's economy, where electronics account for more than 50 percent of the total exports.

Analysis on major export product categories shows that in March 2010, the export value for most products was considerably higher compared with the same period last year. This was particularly true for electronic machines, instruments, tools and components, which were up over 43 percent to 20.4 billion Hong Kong dollars.

In addition, office machinery and automatic data processor exports were also up 85 percent to 13.2 billion Hong Kong dollars. The export volume for the two categories both increased above 45 percent in the first quarter of 2010 from the same period of last year.

Poon believes there are signs of recovery in the global electronics market following the gradual release of demand accumulated during the recession, the continued availability of digital products and the accelerated pace of computer upgrades. However, low-price and energy-efficient electronics have been more popular because overseas consumers have not changed their cautious attitudes toward spending.

Likewise, consumers are paying more attention to the pricing of toys and have a high demand for traditional products. Comfortable, pragmatic, durable and high cost-performance clothes are favored by consumers and watches and jewels with simple designs and moderate prices also sold well.

By People's Daily Online


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