The decline was aggravated by direct sourcing from China, Vietnam, and Bangladesh, a strong $****, and slow post-pandemic recovery in retail and tourism.
The special administrative region of China had imported apparel worth $*.*** billion during January-August ****, according to *fashion.com/market-intelligence/texpro-textile-and-apparel/" target="_blank">sourcing intelligence tool TexPro.
Hong Kong has not fully recovered from the economic impact of COVID-** in ****. Post-pandemic recovery has been slow, with retail sales and tourism still below pre-COVID levels. The city's apparel shipments to Mainland China and other markets have also dropped amid weak global demand. Many global buyers are now directly sourcing from production bases such as Mainland China, Vietnam, or Bangladesh, bypassing Hong Kong intermediaries -- a shift driven by cost efficiency, supply-chain digitalisation, and faster turnaround times.