April-May exports slightly crept up by 1.7%

External freight volumes also picked up.

Visible trade improved slightly in 2Q14 with the total value of all exports and imports in April–May growing by 1.7% y-o-y and 3.1%, respectively.

According to a research report from JLL, while headline trade numbers showed only moderate growth, air-freight cargo and container throughput volumes were up 7% y-o-y and 6.3% y-o-y, respectively, over the same two-month period.

In addition to the pick-up in external freight volumes, demand for warehousing space was also supported by on-going outsourcing requirements.

Here’s more from JLL:

Japanese 3PL Konoike Transport leased 58,500 sq ft in Gateway ts in Tsing Yi after securing a supply chain management mandate from a Japanese fast fashion brand while Arvato Digital Services leased the whole building at 18 Hoi Wah Road (172,600 sq ft) in Tuen Mun after being awarded a service contract with a German OEM.

Demand for warehousing space close to the Kwai Chung container port remained strong, especially for properties with floor plates over 40,000 sq ft and monthly rentals below HKD 10 per sq ft.

Hong Kong-based freight forwarder, U-Freight (UFL) leased 39,100 sq ft in Gateway ts while Mitex leased 16,000 sq ft in Hopewell Logistics Centre in Kwai Chung. Both transactions were driven by expansion requirements.