Moderate growth: March saw the value of total exports of goods rise to $206.8 billion, up 6.9% on the same month last year.

March saw the value of total exports of goods rise to $206.8 billion, up 6.9% on the same month last year. The figure comes after a year-on-year rise of 11.6% in February.

Within this total, the value of re-exports grew 9% to $199.3 billion, while the value of domestic exports fell 29.1% to $7.6 billion.

Concurrently, the value of imports of goods rose 11.1% over a year earlier to $235.2 billion, after a year-on-year rise of 1.3% in February. A visible trade deficit of $28.3 billion, equivalent to 12% of the value of imports of goods, was recorded.

For the first quarter of 2007 as a whole, the value of total exports of goods rose  9% over the same period in 2006. Within this total, the value of re-exports grew 11.8%, while the value of domestic exports fell 33.4%.

Concurrently, the value of imports of goods rose 9%. A visible trade deficit of $40.3 billion, equivalent to 6.4% of the value of imports of goods, was recorded.

Comparing the first quarter of 2007 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods rose 0.9%. Within this total, the value of re-exports grew 1.0%, while the value of domestic exports went down by 0.8%. Meanwhile, the value of imports of goods fell 0.2%.

The Census & Statistics Department said merchandise exports grew moderately in March, adding that export growth was mainly supported by the continued strong performance of the Mainland market on the back of its vibrant domestic demand.