HK's value of total exports up 9.4 pct

The value of total exports of goods in Hong Kong rose 9.4 percent in April over the same month last year to 188.8 billion Hong Kong dollars (about 24.36 billion U.S. dollars), the Hong Kong Census and Statistics Department said Friday.

Within the total exports of goods, the value of re-exports grew 8.6 percent to 178.5 billion Hong Kong dollars (about 23.03 billion U.S. dollars), while the value of domestic exports rose 27. 6 percent to 10.3 billion Hong Kong dollars (about 1.33 billion U. S. dollars).

Concurrently, the value of imports of goods rose 11.2 percent over a year earlier to 203.2 billion Hong Kong dollars (about 26. 22 billion U.S. dollars), after a year-on-year increase of 16 percent in March. A visible trade deficit of 14.5 billion Hong Kong dollars (about 1.87 billion U.S. dollars), equivalent to 7.1 percent of the value of imports of goods, was recorded.

Increases were registered in the values of re-exports to many major destinations, particularly the Mainland (+15.4%), South Korea (+11.6%), France (+8.7%), Japan (+6%) and Taiwan (+4.2%).

Increases were registered in the values of imports from most major suppliers, particularly Taiwan (+27.2%), Thailand (+24.4%), Germany (+19.7%), South Korea (+16.7%) and the Mainland (+14.7%).

The Census and Statistics Department said April's growth was mainly supported by the Mainland's continued robust trade flows and further expansion of intra-regional trade.

Although the external environment remains largely positive, the trade outlook is clouded by various downside risks, such as high oil prices, rising US interest rates, global trade imbalances, and tightening measures on the Mainland. How these affect global demand is critical to Hong Kong's export performance in the period ahead.

Source: Xinhua