Hong Kong's total exports value grew 4.9% year-on-year in May to $306 billion, while the value of goods imports grew 3.7% to $348.3 billion.
The Census & Statistics Department said the value of re-exports increased 4.9% to $300.7 billion and that of domestic exports increased 10% to $5.3 billion.
A visible trade deficit of $42.4 billion, equivalent to 12.2% of the goods imports value, was recorded.
For the first five months as a whole, total goods exports value rose 1.1% year-on-year. Within this total, re-exports value increased 1.1% while domestic exports value rose 3%.
Concurrently, goods imports value grew 2.4%. A visible trade deficit of $220.4 billion, equivalent to 13.5% of goods imports value, was recorded.
The department noted that the value of merchandise exports reverted to a moderate year-on-year growth in May upon improved performance of advanced markets as well as the Mainland market.
It forecast that Asia's trade flows and Hong Kong's export performance will hinge on whether the advanced economies will gain further traction and generate stronger import demand. There are still uncertainties, including those associated with the future path of US monetary policy and geopolitical tensions in various parts of the world.
