HK August exports off 1.3pc
HONG KONG's August exports in goods fell 1.3 per cent and imports slipped 0.2 per cent in value, but from January to August exports increased 3.5 per cent year on year, Census & Statistics Department data shows.
The value of total goods exports dropped to HK$307.5 billion (US$39.65 billion). Within this total, the value of re-exports decreased 1.2 per cent to HK$302.6 billion, while that of domestic exports dropped 10.4 per cent to HK$4.9 billion. The value of imports fell to HK$347.1 billion.
Hong Kong Government Information Services said a visible trade deficit of HK$39.6 billion, equivalent to 11.4 per cent of the value of goods imports, was registered in August.
From January to August, the value of total goods exports increased 3.5 per cent year-on-year. Within this total, the value of re-exports rose 3.6 per cent, while that of domestic exports dropped 5.8 per cent.
The value of goods imports was up 4.1 per cent. A visible trade deficit of HK$322.6 billion, equivalent to 12.4 per cent of the value of goods imports, was recorded in the first eight months of the year.
Commenting on the results, the department noted merchandise exports relapsed to a modest year-on year decline in August, after a notable rebound in July. Exports to the US and Japan fell, while those to Europe improved and other Asian markets showed a mixed performance.
Looking ahead, the external environment will remain challenging given the advanced economies' tepid recovery, the slower growth in emerging markets, and the uncertainty arising from the US monetary policy and fiscal issues, it said, adding that Hong Kong's export performance may still be subject to fluctuations in the near term.