According to data from Hong Kong’s Census and Statistics Department, jewellery shipments during February 2022 recorded around $1.78 bn up 0.1 per cent from the same month last year.
This demonstrated a 23.67 per cent and 7.7 per cent uptick from 2020 and 2019 figures, respectively, but fell behind jewellery exports in February 2018.
Hong Kong’s exports of jewellery and other luxury items revealed a slower pace of growth in February 2022 compared to strong gains posted in previous months.
February 2022 jewellery exports were also below the around $3.11 bn achieved in January this year. Combined jewellery shipments in January to February 2022 meanwhile showed an 18.7 per cent year-on-year increase to around $4.88 bn.
As per a government spokesman, the recent situation geopolitical in Ukraine will likely pose a drag on global economic growth, and it may affect Hong Kong's export performance in the near term.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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