HK's Exports Expected To Slow In 2022: TDC

The Trade Development Council (TDC) said on Thursday that it expects Hong Kong’s exports to grow by 8 percent in value in 2022, down from the 25 percent expansion recorded this year.

The council surveyed 500 traders in November, with the majority of them saying they expect Hong Kong exports to slow next year due to the pandemic.

"I won't take it as a worse performance. In fact, any growth would be a very good performance... This year's 25 percent is based on a negative growth rate of last year," Nicholas Kwan, Director of Research at the TDC, said.

The council said Covid-19 remains the biggest challenge for traders, with 87 percent of local exporters saying they’re worried about the pandemic.

It added that global supply chain disruptions, monetary conditions and political uncertainties may undermine export growth.