The average price of Asian exports shipped by Li & Fung, the world's largest trade sourcing company, fell by 9 per cent last year as consumer confidence fell sharply in the US and Europe.
The Hong Kong trading group tracks the average unit price of the goods it handles, the vast majority of which are sourced in Asia and sold in either the US or Europe.
“The trend was very clear. We experienced a 9 per cent decline [in export prices],” William Fung, managing director, said yesterday.
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