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Export remains weak even as Christmas nears
23
Sep '08
Experts had said that most probably the market will perk-up before the on-set of Christmas and festive seasons in the US and EU, and provide the much needed boost to exports. However, no such signs are as yet visible.

It has been noted that exports from Hong Kong are going down due to slowdown in the US economy, appreciation of HK Dollar and rising production cost. Even as Christmas nears the situation is not improving.

According to the statistics from Hong Kong Government, the export index in the third season of this year is 33.9, whereas it was 45.9 in the second season.

Insiders say that since increased cost could not be passed onto clients completely, several companies had to decline some of the orders.

Analysts believe that the export situation of the country will remain weak in the next three years. Even big industries like textile and clothing will see a tough time.

Fibre2fashion News Desk - China

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