Hong Kong’s exports of jewellery and other luxury items revealed a slower pace of growth in February 2022 compared to strong gains posted in previous months.

Data from the city’s Census and Statistics Department showed jewellery shipments during the month in review reached HK$14 billion (around US$1.78 billion), up 0.1 per cent from the same period a year ago. 

This demonstrated a 23.67 per cent and 7.7 per cent uptick from 2020 and 2019 figures, respectively. It however fell behind jewellery exports in February 2018, which amounted to HK$15 billion (around US$2 billion).

February’s jewellery exports were also below the HK$24.34 billion (around US$3.11 billion) achieved in January this year. Combined jewellery shipments in January to February 2022 meanwhile showed an 18.7 per cent year-on-year increase to HK$38.25 billion (around US$4.88 billion).

Total value for all export categories in January and February were up 9.3 per cent from a year ago. The government said Hong Kong recorded stronger exports to mainland China, the US, the EU and other major Asian markets.

“The recent situation in Ukraine will likely pose a drag on global economic growth through elevating international energy and commodity prices and aggravating supply chain and transportation disruptions. This may affect Hong Kong's export performance in the near term,” a government spokesman noted.