Hong Kong’s exports of jewellery and other gold and silver items maintained their upward trajectory in November 2023, latest government data showed. 

According to the city’s Census and Statistics Department, jewellery exports rose 15.8 per cent year on year to HK$21.5 billion (around US$2.75 billion) during the month in review while January to November figures were up 4.3 per cent to HK$225.4 billion (about US$28.8 billion).

Total exports, meanwhile, dipped 9.4 per cent year on year from January to November 2023, but an improvement of 7.4 per cent was recorded in November, marking two consecutive months of growth. The government explained though that there was a lower base of comparison in 2022. 

“Exports to mainland China rose. Those to the US registered modest growth while those to the European Union fell visibly. Those to other major Asian markets saw mixed performance,” the government said.

It added that heightened geopolitical tensions and tight financial conditions will continue to weigh on Hong Kong's export performance in the near term.