Widespread economic and political instability weighed heavily on Hong Kong exports in 2022, with jewellery shipments declining by 6.5 per cent from year-ago figures, latest government data showed. 

Exports of jewellery, goldsmiths’ and silversmiths’ wares in December alone were down 28.7 per cent, according to the city’s Census and Statistics Department. Total value of exports meanwhile fell year on year by 8.6 per cent from January to December 2022 while December shipments dipped by 28.9 per cent.

A Hong Kong government spokesman attributed this to a “deteriorating external environment and disruptions to cross-boundary land transportation.” Government data also showed a decline in exports to mainland China, the US and the European Union, as well as to other major Asian markets.

“Hong Kong's export performance will continue to be adversely affected by weak global growth in the near term. Nonetheless, the gradual revival of cross-boundary land transportation after the recent relaxation of relevant restrictions should offset some of the pressure,” the government said.