The Hong Kong export index fell to a new record low for the first quarter as local traders' confidence has been hard hit by the coronavirus pandemic. The HKTDC Export Index declined by a further 2.8 points to 16, according to the Hong Kong Trade Development Council. This marks the lowest reading for the index since its introduction in 2006 and can be taken as a clear indication that Hong Kong’s export prospects will remain becalmed at best over the near term, HKTDC said. The index is designed to gauge the prospects of the near-term export performance of traders. The business confidence survey is done every quarter, with 500 participating Hong Kong traders from six major industry sectors interviewed.

Source: The Standard March 17, 2020 08:49 UTC