Hong Kong exports up 11.4% in June

According to the Hong Kong Census and Statistics Department, the total value of goods exported through and from Hong Kong rose 11.4% y-o-y in June to US$39.89 billion. For the second quarter of 2014 the value of exports was up 3.4%, and up 2.8% for the first half.

This acceleration of the growth rate for exports has translated fairly directly to a similar growth in cargo traffic carried by Hong Kong’s major airline, Cathay Pacific. For January and February combined, Cathay’s cargo traffic was almost flat with the previous year. Since then, Cathay has been reporting monthly y-o-y traffic increases of between 16% and 19%.

The growth in exports, combined with positive economic developments in China and elsewhere, has raised hope in the air freight industry that this year’s peak season may be a strong one.