Hong Kong's total exports value in June fell 1.0% year-on-year while the value of imports dropped 0.9%, the Census & Statistics Department announced today.
Total goods exports value decreased to $296.5 billion from a year earlier, after a year-on-year decrease of 0.1% in May.
Within this total, the value of re-exports decreased 0.8% to $292.9 billion, while domestic exports decreased 12.9% to $3.6 billion. The value of goods imports fell 0.9% to $342.1 billion, after a year-on-year decrease of 4.3% in May.
A visible trade deficit of $45.6 billion, equivalent to 13.3% of goods imports value was recorded in June.
Comparing the second quarter with the first quarter on a seasonally adjusted basis, the value of total goods exports increased by 6.9%. Within this total, the value of re-exports increased by 7.1%, while that of domestic exports fell 3.6%. The value of goods imports increased by 4.5%.
The department said merchandise exports value declined slightly in June over a year earlier amid sluggish global demand, with mixed performance across major markets.
But the year-on-year rate of decline in merchandise exports value narrowed considerably from 6.8% in the first quarter to 1.2% in the second quarter, indicating a relative improvement in performance in recent months.
It said that looking ahead, the external trading environment remains challenging, given the uncertainties following the UK’s vote in favour of leaving the EU, the slow recovery in the advanced markets, diverging monetary policy among major central banks, and geopolitical tensions. The Government will monitor the situation closely.
