Hong Kong – Results of monthly survey on business situation of small and medium-sized enterprises for July 2021

Results of monthly survey on business situation of small and medium-sized enterprises for July 2021

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     The Census and Statistics Department (C&SD) released today (August 10) the results of the Monthly Survey on Business Situation of Small and Medium-sized Enterprises (SMEs) for July 2021.

     The current diffusion index (DI) on business receipts amongst SMEs increased from 45.1 in June 2021 in the contractionary zone to 46.6 in July 2021, whereas the one-month’s ahead (i.e. August 2021) outlook DI on business receipts was 52.0. Analysed by sector, the current DIs on business receipts for many surveyed sectors rose by varying degrees in July 2021 as compared with previous month, particularly for the logistics (from 44.3 to 48.6) and import and export trades (from 43.7 to 47.4). 

     The current DI on new orders for the import and export trades increased from 44.7 in June 2021 to 47.9 in July 2021, whereas the outlook DI on new orders in one month’s time (i.e. August 2021) was 49.0.

Commentary

     A government spokesman said that business sentiment among SMEs continued to improve in July amid vibrant external demand and the stabilised local epidemic situation. The expected business situation in one month’s time likewise saw a notable improvement, particularly so in the retail trade, logistics and restaurants sectors.

     The spokesman added that the Consumption Voucher Scheme would help stimulate consumption sentiment and lend support to consumption-related sectors. However, the more infectious Delta variant has been raging around the world of late, adding uncertainties over the global economic outlook. It is thus vital for the community to remain vigilant and actively participate in the COVID-19 Vaccination Programme. The Government will monitor the situation closely. 

Further information

     The Monthly Survey on Business Situation of Small and Medium-sized Enterprises aims to provide a quick reference, with minimum time lag, for assessing the short-term business situation faced by SMEs. SMEs covered in this survey refer to establishments with fewer than 50 persons engaged. Respondents were asked to exclude seasonal fluctuations in reporting their views. Based on the views collected from the survey, a set of diffusion indices (including current and outlook diffusion indices) is compiled. A reading above 50 indicates that the business condition is generally favourable, whereas that below 50 indicates otherwise. As for statistics on the business prospects of prominent establishments in Hong Kong, users may refer to the publication entitled “Report on Quarterly Business Tendency Survey” released by the C&SD.

     It should be noted that the results of the survey should be interpreted with care. The survey solicits feedback from a panel sample of about 600 SMEs each month and the survey findings are thus subject to sample size constraint. Views collected from the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in. Besides, in this type of opinion survey on expected business situation, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the business situation accords with the underlying trends. For this survey, main bulk of the data were collected in the last week of the reference month. 

     More detailed statistics are given in the “Report on Monthly Survey on the Business Situation of Small and Medium-sized Enterprises”. Users can download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080015&scode=300).

     Users who have enquiries about the survey results may contact Industrial Production Statistics Section of the C&SD (Tel: 3903 7246; email: sme-survey@censtatd.gov.hk).

Hong Kong – May 2021 issue of “Hong Kong Monthly Digest of Statistics” now available

May 2021 issue of “Hong Kong Monthly Digest of Statistics” now available

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     The Census and Statistics Department (C&SD) published today (May 17) the May 2021 issue of the “Hong Kong Monthly Digest of Statistics” (HKMDS).

     Apart from providing up-to-date statistics, this issue also contains two feature articles entitled “Hong Kong’s International Investment Position, 2011 to 2020” and “The Profile of the Unemployed Population in Hong Kong in 2020”.

“Hong Kong’s International Investment Position, 2011 to 2020”

     International Investment Position (IIP) is a balance sheet showing the stock of external financial assets and liabilities of an economy at a particular time point. Being a highly externally oriented economy, Hong Kong is very actively engaged in activities involving cross-territory investment. Analysis of Hong Kong’s IIP is therefore particularly useful for assessing the financial soundness of the economy.

     This feature article describes salient features of Hong Kong’s IIP for the period 2011 to 2020.

     For enquiries about this feature article, please contact the Balance of Payments Branch (1), C&SD (Tel: 3903 6990; email: [email protected]).

“The Profile of the Unemployed Population in Hong Kong in 2020”

     The labour market of Hong Kong deteriorated sharply in 2020. The seasonally adjusted unemployment rate increased from 4.2% in the first quarter to 6.6% in the fourth quarter of 2020, the highest in 16 years. The number of unemployed persons (not seasonally adjusted) rose from 162 200 to 245 800 over the same period. This feature article provides an analysis of the unemployed population in 2020 from various perspectives. It aims to give readers a better understanding of the unemployed population in Hong Kong.

     For enquiries about this feature article, please contact the Household Statistics Analysis Section, C&SD (Tel: 2887 5208; email: [email protected]).

     Published in bilingual form, the HKMDS is a compact volume of official statistics containing about 140 tables. It collects up-to-date statistical series on various aspects of the social and economic situation of Hong Kong. Topics include population; labour; external trade; National Income and Balance of Payments; prices; business performance; energy; housing and property; government accounts, finance and insurance; and transport, communications and tourism. For selected key statistical items, over 20 charts depicting the annual trend in the past decade and quarterly or monthly trend in the recent two years are also available. Users can download the Digest at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1010002&scode=460).

     Enquiries about the contents of the Digest can be directed to the Statistical Information Dissemination Section (1) of the C&SD (Tel: 2582 4738; email: [email protected]).

Monthly Production Report for March, 2021

  1. Production of Crude Oil

Crude oil production during March, 2021 was 2612.96 TMT which is 5.63% lower than target and 3.13% lower when compared with March, 2020.Cumulative crude oil production during April-March, 2020-21 was 30491.77 TMT which is 5.65% and 5.22% lower than target for the period and production during corresponding period of last year respectively. Unit-wise and State-wise crude oil production is given at Annexure-I. Unit-wise crude oil production for the month of March, 2021 and cumulatively for the period April-March, 2020-21vis-à-vis same period of last year has been shown in Table-1 and month-wise in Figure-1.

Table-1: Crude Oil Production (in TMT)

Oil Company

Target

March (Month)

April-March (Cumulative)

2020-21 (Apr-Mar)

2020-21

2019-20

% over last year

2020-21

2019-20

% over last year

Target

Prod.*

Prod.

Target

Prod.*

Prod.

ONGC

20931.68

1768.12

1713.08

1778.11

96.34

20931.68

20182.75

20626.95

97.85

OIL

3121.00

272.49

249.61

254.07

98.25

3121.00

2937.37

3106.61

94.55

PSC Fields

8265.00

728.15

650.26

665.28

97.74

8265.00

7371.65

8436.19

87.38

Total

32317.68

2768.76

2612.96

2697.45

96.87

32317.68

30491.77

32169.76

94.78

Note: Totals may not tally due to rounding off.*: Provisional

Figure-1: Monthly Crude Oil Production

Unit-wise production details with reasons for shortfall are as under:

    1. Crude oil production by ONGC(Oil and Natural Gas Corporation) in nomination block during March, 2021 was 1713.08 TMT which is 3.11%lower than target and 3.66%lower when compared with March 2020. Cumulative crude oil production by ONGC during April-March, 2020-21 was 20182.75 TMT which is 3.58%and 2.15% lower than target for the period andproduction during corresponding period of last year respectively. Reasons for shortfall in production are as under:
  • Production planned from WO16 cluster from June’20 could not be realized due to delay in MOPU (SagarSamrat) as activities at GPC yard Abu Dhabi got affected due to Covid restrictions/lockdown
  • New wells planned under Cluster 8 development project delayed due to delay in installation of new platforms due to COVID implications
    1. Crude oil production by OIL(Oil India Ltd) in the nomination block during March, 2021 was 249.61 TMT which is8.40% lower than target and 1.75% lower when compared with March 2020. Cumulative crude oil production by OIL during April-March, 2020-21 was 2937.37 TMT which is 5.88% and 5.45% lower than target for the period and production during corresponding period of last year respectively. Reasons for shortfall in production are as under:
  • Less than planned contribution from workover wells, drilling wells and old wells.
  • Bandhs /blockade by local people and associations after the Baghjan Blowout.
    1. Crude oil production by Pvt/JVscompanies in the PSC (Production Sharing Contract) regime during March, 2021 was 650.26 TMT which is 10.70% lower than target and 2.26% lower when compared with March 2020. Cumulative crude oil production by Pvt/JVs companies during April-March, 2021 was 7371.65 TMT which is 10.81% and 12.62% lower than target for the period and production during corresponding period of last year respectively.Reasons for shortfall in production are as under:
  • RJ-ON-90/1 (Cairn Energy India Ltd): Delayed start up full field polymer injection in Bhagyam and Aishwarya field. Delay in hook-up of Stage-2 wells and NA-1 processing facility commissioning in advance stage in ABH. Flow cease in few wells of Satellite fields. Project schedule of Well and Surface Facility of Tukaram, Kaam-1 and GSV Condensate is impacted by COVID-19.
  • B-80 (Hindustan Oil Exploration Company Ltd): Production from B80 field not commenced due to delay in completion of field development activities because of COVID.
  • RAVVA (Cairn Energy India Ltd): Decline in production from producer wells.
  • PY-3 (HARDY): Production could not be commenced in PY-3 field due to intra-JV issues.
  • CB-ONN-2005/9 (MERCATOR): Block under PI transfer request and National Company Law Tribunal proceedings.
  1. Production of Natural Gas

Natural Gas production during March,2021 was 2683.90 MMSCM which is 11.11% higher when compared with March, 2020 but 15.11% lower than the monthly target. Cumulative natural gas production during April-March, 2020-21 was 28670.60 MMSCM which is 14.60% and 8.06% lower than target for the period and production during corresponding period of last year respectively. Unit-wise and state-wise natural gas production is given at Annexure-II. Unit-wise natural gas production for the month of March, 2021 and cumulatively for the period April-March, 2020-21vis-à-vis same period of last year has been shown in Table-2 and month-wise in Figure-2.

Table-2: Natural Gas Production (inMMSCM)

Oil Company

Target

March (Month)

April-March (Cumulative)

2020-21 (Apr-Mar)

2020-21

2019-20

% over last year

2020-21

2019-20

% over last year

Target

Prod.*

Prod.

Target

Prod.*

Prod.

ONGC

23982.98

2049.98

1831.74

1905.52

96.13

23982.98

21871.94

23746.19

92.11

OIL

2761.73

261.47

210.09

211.62

99.28

2761.73

2479.73

2668.25

92.93

PSC Fields

6826.82

850.27

642.07

298.29

215.25

6826.82

4318.93

4769.78

90.55

Total

33571.53

3161.72

2683.90

2415.43

111.11

33571.53

28670.60

31184.22

91.94

Note:  Totals may not tally due to rounding off. *: Provisional

Figure-2: Monthly Natural Gas Production

    1. Natural gas production by ONGC in the nomination blocks during March, 2021 was 1831.74 MMSCM which is 10.65% lower than target and 3.87%lower when compared with March 2020. Cumulative natural gas production by ONGC during April-March, 2020-21 was 21871.94 MMSCM which is 8.80% and 7.89% lower than target for the period and production during corresponding period of last year respectively.Reasons for shortfall in production are as under:
  • Less Gas production from WO16 cluster due to delay in mobilization of MOPU (SagarSamrat)
  • Less than planned production from Vasistha/S1 wells in EOA due certain reservoir related issues/high liquid.
  • Less than envisaged production from Daman-Tapti Block.
  • Less gas intake by Uran Plant due to maintenance job.
    1. Natural gas production by OILin the nomination block during March, 2021 was 210.09 MMSCM which is 19.65% lower than monthly target and 0.72% lower than the March, 2020. Cumulative natural gas production by OIL during April-March, 2020-21 was 2479.73 MMSCM which is 10.21% and 7.07% lower than target for the period and production during corresponding period of last year respectively. Reasons for shortfall in production are as under:
  • Low upliftment/demand of gas by the major customers.
  • Bandhs /blockade by local people and associations after the Baghjan Blowout.
    1. Natural gas production by Pvt/JVs companies in the PSC (production sharing contracts) regime during March,2021 was 642.07 MMSCM which is 115.25% higher than the March, 2020 due to new field D-34 (KG 98/3) started production in Dec-2020 with 1.3 MMSCMD, ramped up to 9.6 MMSCMD in March-2021 but total production by Pvt/JVs companies during March, 2021 is 24.49% lower than monthly target. Cumulative natural gas production by Pvt/JVs during April-March, 2020-21 was 4318.93 MMSCM which is 36.74% and 9.45% lower than target for the period and production during corresponding period of last year respectively. Reasons for shortfall in production are as under:
  • KG-DWN-98/2 (Oil & Natural Gas Corpn.): U3-B well is flowing less than the expected profile and delay in commissioning of Wells of U1-field.
  • KG-DWN-98/3 (Reliance Industries Ltd): As production commencement from R-Cluster (D34) field of KG-DWN-98/3 was delayed due to COVID from June 2020 to December 2020 which hampered the gradual ramp-up of Gas production.
  • RJ-ON/6 (Focus Energy Limited): Reduced Gas offtake by buyer.
  • Raniganj East (Essar Oil and Gas Exploration & Production Ltd): Production is lower due to less sales off-take.
  • KG-OSN-2001/3 (Oil & Natural Gas Corpn.): Well D7 is planned to be safely abandoned.
  1. Crude Oil Processed (Crude Throughput)

Crude Oil Processed during March, 2021 was 20985.28 TMT which is 2.90% lower than the target for the month and 1.03% lower than March, 2020.Cumulative crude throughput during April-March, 2020-21 was 221773.19 TMT which is 11.88% and 12.82% lower than target for the period and crude throughput during corresponding period of last year respectively. Refinery-wise details of the crude throughput and capacity utilization during the month of March, 2021 vis-à-vis March, 2020 are given at Annexure-III and IV. Company-wise crude throughput for the month of March, 2021 and cumulatively for the period April-March, 2020-21vis-à-vis same period of last year has been shown in Table-3 and month-wise in Figure-3.

Table 3: Crude Oil Processed (Crude Throughput) (in TMT)

Oil Company

Target

March (Month)

April-March (Cumulative)

2020-21 (Apr-Mar)

2020-21

2019-20

% over last year

2020-21

2019-20

% over last year

Target

Prod.*

Prod.

Target

Prod.*

Prod.

CPSE

147377.43

12940.56

12841.38

12261.68

104.73

147377.44

127503.48

144715.80

88.11

IOCL

72400.04

6553.62

5926.90

5736.13

103.33

72400.04

62350.64

69419.36

89.82

BPCL

33000.00

2851.00

2759.80

2706.52

101.97

33000.00

26222.38

31532.11

83.16

HPCL

16999.28

942.06

1581.12

1514.89

104.37

16999.28

16424.68

17180.32

95.60

CPCL

10290.00

920.00

963.54

853.19

112.93

10290.00

8242.89

10160.64

81.13

NRL

2549.86

218.27

240.90

247.65

97.28

2549.86

2707.35

2383.34

113.59

MRPL

12074.42

1450.00

1361.39

1196.68

113.76

12074.42

11474.55

13953.11

82.24

ONGC

63.83

5.61

7.72

6.63

116.39

63.83

80.99

86.93

93.17

JVs

14772.00

1428.00

1627.18

1698.07

95.83

14772.00

16261.63

20154.97

80.68

BORL

7800.00

660.00

602.13

733.21

82.12

7800.00

6189.63

7912.91

78.22

HMEL

6972.00

768.00

1025.05

964.86

106.24

6972.00

10072.00

12242.06

82.27

Private

89515.16

7243.95

6516.72

7243.95

89.96

89515.16

78008.07

89515.16

87.15

RIL

68894.99

5524.94

4889.94

5524.94

88.51

68894.99

60940.96

68894.99

88.45

NEL

20620.18

1719.01

1626.78

1719.01

94.63

20620.18

17067.11

20620.18

82.77

TOTAL

251664.61

21612.51

20985.28

21203.70

98.97

251664.61

221773.19

254385.94

87.18

Note:  Totals may not tally due to rounding off.*: Provisional

Figure 3: Crude Oil Processed (Crude Throughput)

3.1 CPSE Refineries’ crude oil processed during March, 2021 was 12841.38 TMT which is 4.73% higher than the target for the month but 0.77% lower when compared with March, 2020.Cumulative crude throughput by CPSE refineries during April-March, 2020-21 was 127503.48 TMT which is 13.49% and 11.89% lower than target for the period and crude throughput during corresponding period of last year respectively.Reasons for shortfall in production are as under:

  • IOCL-Barauni: Crude processed as per product upliftment
  • IOCL-Gujarat: Atmospheric Vacuum Unit (AVU-3) maintenance and installation shutdown, High Gas Oils (SRGO/RCO) stock and delayed commissioning of new Diesel Hydrotreating (DHDT)
  • IOCL-Haldia: Crude processing regulated due to Hydrogen Generation Unit (HGU-2) interruption.
  • IOCL-Digboi: Crude processed lower due maintenance and installation shutdown.
  • IOCL-Panipat: Crude processed lower in line with product upliftment and old DHDT shutdown for Packinox tube bundle replacement.
  • IOCL-Bongaigaon: Crude processed as per crude availability.
  • NRL-Numaligarhi: Crude processed as per crude availability.

3.2       JV refineries’ crude oil processed during March, 2021 was 1627.18 TMT which is 13.95% higher than the target for the month but4.17% lower when compared with March, 2020. Cumulative crude throughput during April-March, 2020-21 was 16261.63 TMT which is 10.08% higher than target for the period but 19.32% lower when compare with the corresponding period of last year respectively.

3.3       Private refineries’ crude oil processed during March, 2021 was 6516.72 TMT which is 10.04% lower than the corresponding month of last year. Cumulative crude throughput during April-March, 2020-21 was 78008.07 TMT which is 12.85% lower than the corresponding period of last year.

  1. Production of Petroleum Products

Production of Petroleum Products during March, 2021 was 22753.18 TMT which is marginally higher by 0.01% than the target for the month but0.66% lower when compared with March, 2020. Cumulative production during April-March, 2020-21 was 233436.22 TMT which is 9.88% and 11.22% lower than target for the period and production during corresponding period of last year respectively. Unit-wise production of petroleum products is given at Annexure-V. Company-wise production for the month of March, 2021 and cumulatively for the period April-March, 2020-21 vis-à-Vis same period of last year has been shown in Table-4 and month-wise in Figure-4.

Figure 4: Monthly Refinery Production of Petroleum Products

Table 4: Production of Petroleum Products (TMT)

Oil Company

Target

March (Month)

April-March (Cumulative)

2020-21 (Apr-Mar)

2020-21

2019-20

% over last year

2020-21

2019-20

% over last year

Target

Prod.*

Prod.

Target

Prod.*

Prod.

CPSE

138753.95

12154.07

12331.02

11951.00

103.18

138753.95

120927.70

137206.47

88.14

IOCL

68760.50

6239.85

5741.84

5727.55

100.25

68760.50

59924.81

66668.28

89.89

BPCL

31319.00

2686.00

2742.32

2700.45

101.55

31319.00

25124.09

30240.10

83.08

HPCL

15914.53

869.12

1463.43

1368.70

106.92

15914.53

15360.45

15936.81

96.38

CPCL

9527.02

855.28

903.64

795.74

113.56

9527.02

7576.37

9329.77

81.21

NRL

2554.46

222.10

250.86

249.49

100.55

2554.46

2740.85

2299.89

119.17

MRPL

10618.44

1276.45

1221.86

1102.88

110.79

10618.44

10124.25

12651.47

80.02

ONGC

60.00

5.27

7.07

6.20

114.10

60.00

76.89

80.15

95.94

JVs

13590.40

1318.48

1511.15

1611.07

93.80

13590.40

15073.37

18819.89

80.09

BORL

6958.40

588.48

546.63

658.19

83.05

6958.40

5456.11

7218.74

75.58

HMEL

6632.00

730.00

964.51

952.88

101.22

6632.00

9617.26

11601.15

82.90

Private

102154.50

8949.50

8553.43

8949.50

95.57

102154.50

93222.97

102154.50

91.26

RIL

82374.12

7302.54

6980.51

7302.54

95.59

82374.12

76683.16

82374.12

93.09

NEL

19780.38

1646.96

1572.92

1646.96

95.50

19780.38

16539.81

19780.38

83.62

Total Refinery

254498.86

22422.04

22395.60

22511.57

99.48

254498.85

229224.04

258180.85

88.78

Fractionators

4523.28

329.33

357.59

392.74

91.05

4523.28

4212.18

4762.70

88.44

TOTAL

259022.13

22751.37

22753.18

22904.31

99.34

259022.13

233436.22

262943.55

88.78

Note:  Totals may not tally due to rounding off. *: Provisional

    1. Production of petroleum Products by Oil’s Refineries during March, 2021 was 22395.60 TMT which is 0.12% lower than the target for the month and 0.52% lower when compared with March, 2020. Cumulative production of petroleum products by refineries during April-March, 2020-21 was 229224.04 TMT which is 9.93% and 11.22% lower than target for the period and production during corresponding period of last year respectively.
    1. Production of petroleum Products by Fractionators during March, 2021 was 357.59 TMT which is 8.58% higher than the target for the month but 8.95% lower when compared with March, 2020. Cumulative production by Fractionators during April-March, 2020-21 was 4212.18 TMT which is 6.88% and 11.56% lower than target for the period and production during corresponding period of last year respectively.

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Hong Kong – Public Transport Fare Subsidy Scheme monthly threshold relaxation further extended and monthly subsidy cap increased till December 31

Public Transport Fare Subsidy Scheme monthly threshold relaxation further extended and monthly subsidy cap increased till December 31

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     The Transport Department (TD) today (March 30) reminded members of the public that the temporary measure to relax the monthly transport expenses threshold of the Public Transport Fare Subsidy Scheme from $400 to $200 will be extended till December 31, and the monthly subsidy cap will also be temporarily increased from $400 to $500 from April 1 to December 31.
           
     To allow more commuters to benefit from the Scheme during the epidemic, the Government has implemented a special measure to temporarily relax the monthly threshold of the Scheme from $400 to $200 from July 2020 to June this year. The Government has decided to extend the aforementioned special measure for another six months till end of this year, and temporarily increase the monthly subsidy cap from $400 to $500 from April to end of this year. In other words, during the period from April 1 to December 31, the Government will provide a subsidy amounting to one-third of the actual public transport expenses in excess of $200, subject to a maximum of $500 per month for each Octopus.
 
     The TD reminded commuters that they can collect the subsidy of the previous month from the 16th of each month. The subsidy for each month is valid for collection within the next three months.
   
     For details of the Scheme, please visit the website (www.ptfss.gov.hk). Commuters can also check their record of public transport expenses and subsidy amount through the Octopus App or the Scheme hotline 2969 5500.

Monthly Review of Accounts of Union Government of India upto the month of January, 2021 for the Financial Year 2020-21

The Monthly Account of the Union Government of India upto the month of January, 2021 has been consolidated and reports published.

The highlights are given below:-

The Government of India has received ₹12,83,314 crore (80% of corresponding RE 2020-21 of Total Receipts) upto January, 2021 comprising of ₹ 11,01,855 crore Tax Revenue (Net to Centre), ₹1,41,104 crore of Non Tax Revenue and ₹40,355 crore of Non Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (₹15,804 crore) and Disinvestment proceeds (₹24,551crore).

₹4,08,873 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto January, 2021.

Total Expenditure incurred by Government of India is ₹25,17,318 crore (73% of corresponding RE 2020-21), out of which ₹21,55,210 crore is on Revenue Account and ₹3,62,108 crore is on Capital Account. Out of the Total Revenue Expenditure, ₹5,19,597 crore is on account of Interest Payments and ₹2,52,656 crore is on account of Major Subsidies.