Hong Kong Records Increases in External Trade in July

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Last updated at: (Beijing Time) Monday, August 26, 2002

Hong Kong Records Increases in External Trade in July

The values of Hong Kong's total exports and imports of goods both registered marked increases in July 2002 over a year earlier.

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The values of Hong Kong's total exports and imports of goods both registered marked increases in July 2002 over a year earlier.

According to the external merchandise trade figures released Monday by the Census and Statistics Department of the Hong Kong Special Administrative Region, the value of total exports of goodsrose by 9.8 percent over a year earlier to 146.4 billion HK dollars (18.8 billion US dollars).

Within this total, the value of re-exports went up by 12.1 percent to 133.2 billion HK dollars (17.1 billion dollars), while the value of domestic exports decreased by 9.1 percent to 13.2 billion HK dollars (1.7 billion dollars).

Concurrently, the value of imports of goods rose by 7.3 percent over a year earlier to 151.4 billion HK dollars (19.4 billion dollars) in July 2002.

A visible trade deficit of 5 billion HK dollars (641 million dollars), equivalent to 3.3 percent of the value of imports of goods, was recorded in July 2002.

This was considerably smaller than the corresponding deficit of7.8 billion HK dollars (1 billion dollars), equivalent to 5.5 percent of the value of imports of goods, recorded in July 2001.

A government secretariat spokesman noted that merchandise exports showed a further notable growth in July 2002, having rebounded to a marked increase in June.

The spokesman attributed the growth mainly to the surge in the intra-regional trade, with double-digit increases recorded for exports to the mainland of China, Taiwan and South Korea.

Exports to the United States likewise posted a further distinctrise, while exports to the European Union had tended to stabilize,the spokesman added.

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