The values of Hong Kong’s total exports and imports in July increased 6.8% and 7.5% year-on-year.
The Census & Statistics Department said the total exports value increased to $326.2 billion. Within this total, the re-exports value increased 6.8% to $321billion and domestic exports value increased 7% to $5.1 billion.
Imports value increased to $368.3 billion. A visible trade deficit of $42.1 billion, equivalent to 11.4% of goods imports value, was recorded.
For the first seven months of the year, the total goods exports value rose 3.4% year-on-year. Within this total, re-exports value increased 3.4% and domestic exports value increased 4.3%.
Goods imports value increased 3.9%. A visible trade deficit of $304.6 billion, equivalent to 13% of goods imports value, was recorded in the period.
The department noted that merchandise exports grew further in July as many Asian markets registered notable growth.
Local export performance will hinge on the global economy’s recovery pace, the department said. The external environment is subject to various downside risks, including US monetary policy normalisation, the eurozone economy’s faltering recovery, and geopolitical tensions in various regions of the world.
