Business sentiment of HK exporters improve in Q123

The Hong Kong Export Index has risen by 9.3 points to 39.0.

The Hong Kong Trade Development Council (HKTDC) Export Index has rebounded in the first three months of 2023, growing 9.3 points to 39.0.

According to HKTDC, this growth indicates “a significant improvement in business sentiment among Hong Kong exporters.”

HKTDC attributed this improvement to the reopening of borders between Hong Kong and Mainland China in early February. Full benefits of the reopening will likely materialise in the coming months.

The survey also revealed that almost all exporters (98%) reported positive impacts from the gradual resumption of normal cross-border travel since early January.

More than one-third of the exporters (36.5%) will increase shipments through Hong Kong following the normalisation of cross-boundary land cargo transport.

As local exporters expect (55.7%) production and operating costs to increase, they have shifted their focus on cash-flow management (39.9%, up 5.3 percentage points), e-commerce development (36.3%, up 7.5 percentage points), value-added service provision (31.6%, up 6.6 percentage points) and overseas market expansion (30.5%, up 7.5 percentage points).

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