HK export volume logs double-digit contraction in June

HK export volume logs double-digit contraction in June

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Hong Kong’s merchandise exports fell in both volume and price in June 2019 year-on-year, according to data from the Census and Statistics Department (C&SD).  

Total exports of goods decreased by 10.1% in June 2019 compared to June last year, while imports of goods decreased by 8.8%.

In the first half of this year, total exports of goods decreased by 5.2% compared to the same period last year, while the volume of imports of goods decreased by 6.2%.

In terms of prices, total exports of goods increased in price by 1.5% in June year-on-year. Concurrently, the prices of imports of goods increased by 1.7%.

In the first half of 2019, prices of total exports of goods increased by 2.0% from the comparative period last year. Concurrently, the prices of imports of goods also increased by 2.0%.

Based on destinations, a double-digit decline of 12.3% was recorded for the total export volume to China in June year-on-year. Concurrently, the total export volume to the U.S., Japan, and India decreased by 8.8%, 7.8%, and 1.3%, respectively. On the other hand, the total export volume to Taiwan increased by 16.7%.

Total export prices to the U.S., China, and Japan increased by 2.9%, 2.1% and 2.1%, respectively, in June as against the comparative period last year. On the other hand, the total export prices to India and Taiwan decreased by 0.2% and 0.5%, respectively.

Photo: Baycrest

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