Hong Kong reported a 3.3 per cent decline in jewellery exports in July but figures during the first seven months of the year reflected an overall uptick.

Government data showed July exports of jewellery, goldsmiths’ and silversmiths’ wares reached HK$17.83 billion (around US$2.28 billion) while January to July shipments increased by 3.1 per cent to HK$137.88 billion (about US$17.7 billion).

Jewellery imports were also down in July by 3.4 per cent to HK$22.42 billion (approximately US$2.87 billion) but up 2.8 per cent to HK$183.26 billion (roughly US$23.5 billion) from January to July.

Hong Kong’s overall exports of all commodities rose 13.1 per cent in July and 12.4 per cent during the first seven months of 2024.

According to a government spokesman, the year-on-year double-digit growth in exports benefitted from steady demand from China, the US and the European Union. Shipments to major Asian markets, meanwhile, showed mixed performance.
 
“Hong Kong's exports should sustain a positive performance if external demand holds up, though geopolitical tensions and trade conflicts will present risks,” said the government.