DHL Hong Kong Air Trade Index: Businesses 'advised to be prepared' for trade challenges

Hong Kong Productivity Council (HKPC) reported (31-Jul-2019) the following key findings from the DHL Hong Kong Air Trade Leading Index for 3Q2019:

• Watches, clocks and jewellery remain the commodities most vulnerable to the global economy, and as such this segment fell the most in 3Q2019;
• Consumer goods trading is faring better, including F&B imports, and exports of electronic products and parts;
• Sentiment on exports to the US contracted only moderately, as only one third of the total traders were subject to the latest wave of tariffs. Of those are affected, 51% said additional tax were shared among the sellers and buyers;
• Exports to mainland China and other Asia Pacific markets are also under pressure due to softened demand;
• The current survey took place before the G20 summit in Osaka and after the US introduced its latest 25% tariffs on USD200 billion worth of Chinese goods.

HKPC chief innovation officer Lawrence Cheung commented: "With such changeable business environment, enterprises are advised to be prepared for the challenges from the trade issues such as diversifying their target markets to mitigate risks". [more - original PR]