China To Keep Export Growth Afloat

February 2008 | Market Strategy

Despite exports rising by a faster-than-expected 8.2% y-o-y in December 2007, the outlook for Hong Kong's merchandise trade remains increasingly uncertain, as weakness across the territory's major trading partners persists. Full year export growth decelerated to 8.8% in 2007, from 9.4% in 2006 and 11.8% in 2005, and we expect this slowing trend to continue in 2008, forecasting export growth of 7.0% as demand from the US, UK, Japan and eurozone continues to soften. However, demand from mainland China will ensure exports remain supported.

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