DHL Hong Kong air trade index shows optimism in Asia Pacific falling
DHL Express Hong Kong says 'local air traders remain watchful' as the imposition of US tariffs on Chinese goods has been postponed until March
DHL Express Hong Kong says 'local air traders remain watchful' as the imposition of US tariffs on Chinese goods has been postponed until March.
'China introduced supportive tax relief amid ongoing trade tensions and at the time of Renminbi depreciation, which 41.7 per cent of respondents predict will only relieve pressure rather than deliver a trade boost,' according to the DHL Hong Kong Air Trade Leading Index report that is available at u.hkpc.org/dti_eng.
'Local air traders are less optimistic for this year's peak period over Chinese New Year, though the overall sentiment has gone back/dropped to the levels indicated in 2017.
'Air imports saw a positive turn, as it has seen a slight increase over the last quarter. It is expected that the Americas will offset the weak demand from Asia Pacific and Europe, mainly due to slow demand in electronic products and parts,' statement from the express delivery giant citing the report said.
'Air exports index remains conservative with a slight decrease compared to the last quarter of 2018 amid strong demand anticipated from the Americas and Europe.
'As the Americas and Europe have recorded an uptick in market confidence, respectively reflecting a surge in product variety and urgency and a strong apparel and clothing accessories segment, the markets for Asia Pacific and the rest of the world is seen to have dipped this quarter.
'Among air-freighted commodities, watches, clocks and jewellery climbed 10 notches up from 30 to 40 points over the last quarter, as demand grew across the Americas, Europe and Asia Pacific. Food and beverage, which remains to be the top scoring attribute for successive quarters now, rose one point compared to the last quarter,' the index revealed.
The quarterly DTI, commissioned by DHL Express Hong Kong, is compiled by the Hong Kong Productivity Council and based on a survey of 600 Hong Kong companies that focus on in- / out-bound air trading. An index value above 50 indicates an overall positive outlook.