Hong Kong Exports on Track for 2018 Growth

RAPAPORT... Robust retail sales during the recent holiday period willlead to growth in Hong Kong's export market in 2018, the Hong Kong TradeDevelopment Council (HKTDC) said. Strong sales figures at the end of 2017 in both traditionaland emerging markets will result in higher shipments of products from Hong Kongto these locations, the organization predicted in a study it released last week. US holiday sales increased 4.9% this season, according toMastercard SpendingPulse, with the American economy expected to maintainits momentum in 2018, the HKTDC projected. The council also noted recent growthin key European markets, as well as Japan and mainland China. "The positive retail sales growth witnessed towards the endof 2017 suggests that the traditional markets are now on track for growth,while the emerging economies are also picking up speed," said Billy Wong, principaleconomist for Greater China at the HKTDC. "Overall, the global retail marketenjoyed healthy festive growth over its traditionally busiest period. Thegrowth momentum of the global consumer market is likely to be maintained in2018." While the study showed strong overall retail growth, onlinesales rose faster than brick-and-mortar sales in many major markets, thecouncil added. "The ubiquity of omni-channel purchasing opportunities willcontinue to transform the global retail industry, resulting in both newchallenges and new opportunities for Hong Kong exporters," Wong said.Image: Estial