The value of Hong Kong’s total exports in August rose 0.8% year-on-year while the value of imports rose 2.8%, the Census & Statistics Department announced today.
The value of total goods exports increased to $309.7 billion from a year earlier, after a year-on-year decrease of 5.1% in July.
Within this total, the value of re-exports increased 0.8% to $305.7 billion, while domestic exports decreased 3.4% to $4 billion.
The value of goods imports rose 2.8% to $341.8 billion after a year-on-year decrease of 3.3% in July.
A visible trade deficit of $32.1 billion, equivalent to 9.4% of the value of goods imports, was recorded in August.
Comparing the three-month period ending August with the preceding three months on a seasonally adjusted basis, the value of total exports of goods decreased by 0.1%. Within this total, the value of re-exports decreased by 0.2% while that of domestic exports rose 6.8%. The value of goods imports increased by 2.8%.
The department noted exports to the Mainland and some other Asian markets increased by varying degrees despite exports to major advanced markets continuing to decline, leading to a slight year-on-year increase in the value of merchandise exports in August.
Looking ahead, it said the external environment will likely remain unsteady given the fragile recovery of some advanced economies, monetary policy divergence among major central banks, uncertainties stemming from Brexit and heightened geopolitical tensions in various regions. The Government will monitor the situation closely.
