Hong Kong’s total exports value in July fell 5.1% year-on-year while the value of imports dropped 3.3%, the Census & Statistics Department announced today.
Total goods exports value decreased to $304.5 billion from a year earlier, after a year-on-year decrease of 1.0% in June.
Within this total, the value of re-exports decreased 5.1% to $300.6 billion, while domestic exports decreased 5.8% to $3.9 billion. The value of goods imports fell 3.3% to $337.8 billion after a year-on-year decrease of 0.9% in June.
A visible trade deficit of $33.3 billion, equivalent to 9.9% of goods imports value, was recorded in July.
Comparing the three-month period ending July with the preceding three months on a seasonally adjusted basis, total goods exports value increased by 5.3%. Within this total, the value of re-exports increased by 5.3% while that of domestic exports rose 0.2%. The value of goods imports increased by 5.6%.
The department noted the decline in merchandise exports value widened year-on-year in July after having narrowed in the preceding months, reflecting unsteady global demand. However, on a seasonally adjusted basis, merchandise exports value in May to July saw some increase over the preceding three months.
It said that looking ahead, the external trading environment remains challenging given the uncertainties arising from Brexit, US interest rate normalisation, diverging monetary policy among major central banks and geopolitical tensions. The Government will monitor the situation closely.
