Hong Kong’s jewellery exports dropped in April from year-ago figures, indicating a second consecutive month of decline, latest government data showed.

The city’s Census and Statistics Department said shipments of jewellery, goldsmiths’ and silversmiths’ wares were down 7.2 per cent to HK$24.02 billion (around US$3.07 billion) in April while January to April figures dipped 3.6 per cent to HK$76.4 billion (approximately US$9.77 billion).

Jewellery exports kicked off 2024 with year-on-year increases of 8.6 per cent and 2.8 per cent in January and February, respectively. Export figures, however, started to dwindle towards the end of the first quarter, plummeting 14.3 per cent in March.

Meanwhile, jewellery imports, which saw steady growth since the beginning of the year, declined by 5.8 per cent to HK$25.05 billion (about US$3.2 billion) in April. January to April imports remained in positive territory, growing 4.3 per cent to HK$109.77 billion (around US$14.04 billion).

Total exports and imports of goods recorded a year-on-year uptick of 11.9 per cent and 3.7 per cent, respectively in April 2024, which the government attributed to steady trade with the US and China. 

“Hong Kong's export performance should improve further if external demand holds up, though geopolitical tensions and a longer period of tight financial conditions will bring uncertainties,” the government said.