The value of Hong Kong’s total goods exports rose 18.2% year-on-year in February, while that of goods imports increased 25.4%, the Census & Statistics Department said.
The value of goods exports totaled HKD241.7 billion (US$31.1 billion). Within this total, the value of re-exports jumped 18.4% to HKD238.9 billion, while the value of domestic exports went up 3.8% to HKD2.8 billion.
The value of goods imports increased 25.4% to HKD298 billion.
A visible trade deficit of $56.3 billion, equivalent to 18.9% of the value of goods imports, was recorded in February.
Comparing the three-month period ending in February with the preceding three months on a seasonally adjusted basis, the value of total goods exports expanded 4%. Within this total, the value of re-exports grew 4.1%, while that of domestic exports went down 3.2%. The value of goods imports improved 5.3%.
The department said the value of merchandise exports grew notably over a year earlier amid improving external demand.
Despite the recent improvement in global economic conditions, the external trading environment is still subject to uncertainties caused by events like the U.S. interest rate normalization, future U.S. trade policy direction, and the unfolding Brexit situation, it added.
Photo: I, WiNG
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