Retail in Asia

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Report: Hong Kong exporters cautiously optimistic for 2010

A mood of cautious optimism prevails among major markets, according to a survey conducted by the Hong Kong Trade Development Council (HKTDC) following the Christmas sales period. Among surveyed companies, 74 percent indicated they had received orders for delivery in the first quarter of this year, while most Hong Kong exporters believe their export performance this year will be better, or similar, to 2009’s.

Christmas sales in Hong Kong’s major overseas markets are seen as an effective forecast of export prospects in the coming year. This year, however, more attention than usual was paid to seasonal sales, in hopes of determining the extent to which the nascent global recovery has stimulated consumer confidence and spending. The newly released HKTDC report, On the Road to Recovery: Assessment of 2009 Christmas Sales in Major Markets, combines feedback from the council’s global office network with the results of an HKTDC survey of local exporters.

According to the results of the survey, the global Christmas sales showed a general improvement, though results varied significantly. Christmas sales in the US increased 1 to 2 percent over 2008 Christmas results, with the UK up 2 to 3 percent. Modest declines, however, were recorded in major markets France, Germany, Italy and Japan.

To view the full report, visit HKTDC.

(Source: HKTDC)