The value of total goods exports in November rose 14.2 percent over the same month last year to 228. 9 billion HK dollars (1.82 billion U.S. dollars), Hong Kong's Census and Statistics Department said Thursday.

Within this total, the value of re-exports rose 17.5 percent to 218.9 billion HK dollars (28.06 billion U.S. dollars), while the value of domestic exports fell 29.2 percent to 9.9 billion HK dollars (1.27 billion U.S. dollars).

At the same time, the value of imports of goods rose 16.3 percent to 237.8 billion HK dollars (30.49 billion U.S. dollars). This month saw a visible trade deficit of 8.9 billion HK dollars (1.14 billion U.S. dollars), 3.7 percent of the value of goods imports.

The value of total goods exports saw double-digit growth in November, reflecting robust import demand worldwide on the back of the still generally favorable global economic conditions.

Apart from the continued vibrant performance in the mainland market, exports to other major markets also showed considerable improvement in November.

Yet within the total goods exports, domestic exports, which now account for around 4 percent of total exports, continued to decline, mainly due to the plunge in domestic clothing exports.

The near-term trade outlook remains largely positive. Although there is still uncertainty stemming from the U.S. economy, the still vibrant mainland economy and the recent weakening in the U.S. dollar should provide support to cushion against the adverse impact stemming from weaker U.S. demand.

Comparing November with the same month last year, significant increases were registered in the values of re-exports to most major destinations, in particular the Netherlands, up 21.6 percent; the Chinese mainland, up 20.4 percent; France, up 20.3 percent, the United Kingdom (UK), up 18.6 percent, and the United States, up 18.3 percent.

Significant decreases were registered in the values of domestic exports to most major destinations, in particular Germany, down 60. 9 percent, the Netherlands, down 54 percent), the UK, down 45.6 percent, the U.S. down 39.4 percent, and the Chinese mainland, down 20.2 percent.

Over the same periods of comparison, significant increases were registered in the values of imports from all major suppliers, in particular Singapore, up 30.9 percent; Korea, up 25.1 percent; the U.S. up 21.6 percent; The Chinese mainland, up 19.2 percent, and Malaysia, up 15.3 percent.

For the first 11 months of 2006, the value of total goods exports rose 9 percent over the same period in 2005. Within this total, the value of re-exports grew 9.3 percent, while the value of domestic exports fell 3.3 percent.

At the same time, the value of goods imports rose 11.3 percent. A visible trade deficit of 118.2 billion HK dollars (15.15 billion U.S. dollars), or 5 percent of the value of goods imports, was recorded.

Source: Xinhua