Hong Kong’s total exports of goods increased by 2.6% in August year-on-year, as re-exports rose by 2.6% and domestic exports decreased by 0.5%, according to the Census and Statistics Department.
In the first eight months of 2016 the volume of total exports of goods dropped by 1.0% from the same period of the preceding year. Hong Kong’s re-export volume slid back by 0.8%, while domestic exports fell by 10.6%.
On a seasonally adjusted basis, the three-month period ending August 2016 witnessed the volume of total exports contract marginally by 0.1% compared to the preceding three months. Within this total, the volume of re-exports decreased slightly, by 0.2%, whereas that of domestic exports increased by 6.7%.
Regarding export prices, total exports of goods registered a price cut of 1.4% in August year-on-year, as the prices of re-exports dipped by 1.4%, while those of domestic exports shrank by 0.4%.
Overall prices also went south, down 2.2%, in the first eight months of 2016 from the same period in 2015. Re-export prices slumped 2.2%, and those of domestic exports also retreated by 2.2%.
Comparing August 2016 with August 2015, export volume to India and Taiwan increased significantly, by 33.5% and 24.1% respectively, and that to China rose by 5.5%. On the other hand, the U.S. and Japan posted decreases of 3.6% and 6.6%, respectively.
Over the same period, the total export prices to all main destinations decreased: U.S. (-3.8%), Japan (-3.3%), India (-2.5%), Taiwan (-2.3%), and China (-1.0%).
