Export companies report smart turnaround in H1

20 Jul '09

2 min read

Shrinking consumer markets in Europe and the United States led by the financial tsunami had brought down orders, since the last few months of 2008; the haze of which had been lingering over the heads of enterprises in Hong Kong.

Some enterprises in Hong Kong are delighted to find that their orders started to rise significantly from April onwards, with a few even mentioning of restoration of export levels in the first half, with that of the same period in 2008.

Among the Hong Kong companies, who have reported of good orders are traditional labour intensive sectors like textiles and garments enterprises and whose export values and volumes turned from negative to positive, April onwards.

Most of the Hong Kong based companies are sourcing a majority of their goods from Guangdong province, due to which manufacturing companies of the province have also reported of a surge in orders from the second quarter onwards.

According to the latest Customs statistics from Guangdong Customs, exports of Guangdong in June hit a new high this year, representing an increase of 7.4 percent from the previous month, which has lifted the spirits of enterprises in the province.

In the first half, import and export trade value of Guangdong reached US $257.87 billion, down 20.7 percent year-on-year, but the drop rate was less than national average decline of 23.5 percent and stood first in export value amongst all Chinese provinces.

Fibre2fashion News Desk - China