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HKTDC finds virus causes exporter confidence to fall lowest ever level
来源： 编辑：编辑部 发布：2020/03/25 11:21:49
THE confidence level of Hong Kong's exporters has fallen to its lowest-ever level in the face of a triple challenge of the coronavirus scare, weakening demand and lingering Sino-US trade tension according to the Hong Kong Trade Development Council (HKTDC).
The latest HKTDC Export Index showed a reading of 16 - down a further 2.8 points from the previous quarter's low - indicating that local exporters have become more pessimistic about the city's short-term export outlook across all industries and markets, especially jewellery.
Close to 94 per cent of the 500 Hong Kong exporters surveyed said the COVID-19 outbreak has adversely affected their companies in areas such as arranging product deliveries (80.4 per cent), supply of labour following the Chinese New Year holiday (76.2 per cent), business contacts with overseas buyers or suppliers (60.5 per cent) and supply of raw materials (56.1 per cent).
HKTDC research chief Nicholas Kwan said the virus has disrupted the global supply chain, leaving entire markets in a state of uncertainty.
"Since the Sino-US trade dispute surfaced, many manufacturers have set up production lines outside the mainland to avoid additional tariffs," he said.
"Following the outbreak, operations in some factories in the mainland - and even in Japan and Korea - have been suspended or have yet to fully resume, putting a strain on the global supply chain.
"For example, the shortage of electronics components has affected the supply of consumer electronics in the market. Multinational corporations may begin to further diversify their investments and no longer rely on a single country for production," he said.
Mr Kwan added that the pandemic has resulted in the global economy losing its growth momentum, leading to a decline in the demand for new orders.
The latest HKTDC Export Index showed a reading of 16 - down a further 2.8 points from the previous quarter's low - indicating that local exporters have become more pessimistic about the city's short-term export outlook across all industries and markets, especially jewellery.
Close to 94 per cent of the 500 Hong Kong exporters surveyed said the COVID-19 outbreak has adversely affected their companies in areas such as arranging product deliveries (80.4 per cent), supply of labour following the Chinese New Year holiday (76.2 per cent), business contacts with overseas buyers or suppliers (60.5 per cent) and supply of raw materials (56.1 per cent).
HKTDC research chief Nicholas Kwan said the virus has disrupted the global supply chain, leaving entire markets in a state of uncertainty.
"Since the Sino-US trade dispute surfaced, many manufacturers have set up production lines outside the mainland to avoid additional tariffs," he said.
"Following the outbreak, operations in some factories in the mainland - and even in Japan and Korea - have been suspended or have yet to fully resume, putting a strain on the global supply chain.
"For example, the shortage of electronics components has affected the supply of consumer electronics in the market. Multinational corporations may begin to further diversify their investments and no longer rely on a single country for production," he said.
Mr Kwan added that the pandemic has resulted in the global economy losing its growth momentum, leading to a decline in the demand for new orders.