Exports in Hong Kong
Hong Kong - Exports
The economy likely contracted year-on-year in Q4 2019 at a slightly steeper pace. Private consumption will have languished in Q4 as retail sales contracted at a sharper pace in October–November than in Q3, while visitor arrivals were down nearly 50% in the same period and the unemployment rate ticked up in the full quarter. Moreover, business sentiment nosedived and the average manufacturing PMI reading worsened in Q4. On 20 January, Moody’s downgraded Hong Kong’s credit rating to Aa3 from Aa2, largely due to the government’s lack of effective response to the social unrest. A month prior, the IMF recommended Hong Kong continues with counter-cyclical fiscal support, noting prevalent domestic and external economic headwinds. That said, the Fund also highlighted that net capital outflows are so far limited.Hong Kong - Exports Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Exports (USD billion) | 474 | 465 | 462 | 498 | 531 |
Hong Kong Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.82 | 3.38 % | Dec 31 |
| Exchange Rate | 7.79 | -0.11 % | Jan 01 |
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Economic News
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Hong Kong: Inflation sinks lower at outset of the year
February 20, 2020
Inflation dropped to 1.4% in January from 2.9% in December.
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Hong Kong: PMI reaches six-month high in January but remains depressed
February 5, 2020
The IHS Markit Purchasing Managers’ Index (PMI) rose to 46.8 in January (December: 42.1), but remained below the 50-threshold that indicates an improvement in the private sector economy over the previous month.
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Hong Kong: Retail sales continue to crumble in December
February 4, 2020
Retail sales by volume declined 21.0% year-on-year in December, although less sharply than November’s revised 25.5% plummet (previously reported: -25.4% year-on-year).
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Hong Kong: Economy contracts at sharpest rate in over one decade in Q4 2019
February 3, 2020
A preliminary GDP reading showed the economy contracted at the sharpest pace since Q2 2009 in the final quarter of last year, as mass protests battered domestic demand while the U.S.-China trade war and its own political rift with the mainland weighed on the external sector.
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Hong Kong: Inflation inches down in December
January 21, 2020
Inflation ticked down to 2.9% in December from 3.0% in November.
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