The value of Hong Kong’s total exports decreased to $358.3 billion in August, down 3.7% on the same month last year, the Census & Statistics Department announced today.

The value of goods imports decreased 0.3% to $383.9 billion for the same period.

A trade deficit of $25.6 billion, or 6.7% of the value of imports, was recorded for August.

Comparing the three-month period ending August with the preceding three months on a seasonally adjusted basis, the value of goods exported dropped 0.3%, while that of goods imported decreased 0.5%.

The Government noted that merchandise exports stayed weak in August. Exports to the US and the European Union shrank notably from a year earlier, while exports to the Mainland and most other major Asian markets fell by varying degrees.

Looking ahead, it added that a weak external demand for goods will continue to weigh on Hong Kong’s export performance in the near term.