Govt cites slight rebound in overall exports to China
Hong Kong’s jewellery exports reached HK$40.88 billion (around US$5.27 billion) in the first three months of 2020, down 20.4 per cent from 2019 as Covid-19 continues to spread, crippling global businesses.
In March alone, exports of jewellery, goldsmiths’ and silversmiths’ wares dipped 20.8 per cent year on year to HK$14.23 billion (around US$1.83 billion).
Total exports fell 9.7 per cent from January to March and 5.8 per cent in March.
According to a government spokesman, exports to China rebounded alongside the gradual resumption of economic activities there, but shipments to many other major markets, including the US and EU, plunged further.
“Looking ahead, as Covid-19 caused a severe contraction of global economic activity, Hong Kong's merchandise exports will remain under notable pressure in the near term,” the spokesman said.