The value of Hong Kong’s total goods exports rose 16.9% year-on-year in March, while that of goods imports increased 13%, the Census & Statistics Department announced.
The value of goods exports totalled HKD321.9 billion (US$41.3 billion). Of this total, the value of re-exports increased 16.9% to HKD317.7 billion, while the value of domestic exports went up 16.8% to HKD4.2 billion. The value of goods imports increased 13% to HKD364.2 billion.
A visible trade deficit of HKD42.3 billion, equivalent to 11.6% of the value of goods imports, was recorded in March.
Comparing the first quarter of 2017 with the previous quarter on a seasonally adjusted basis, the value of total goods exports increased 1.1%. Of this total, the value of re-exports rose 1.1%, while that of domestic exports went up 3.8%. The value of goods imports increased 3.4%.
The department said merchandise exports sustained strong growth in March amid an improving global economy. “Exports to the major advanced economies improved visibly, and those to the Mainland and many other Asian economies stayed robust.”
But it added that the outlook is still subject to uncertainties, including those related to the U.S. interest rate normalization, Brexit and other political developments in Europe, possible rise of protectionist sentiment, and heightened geopolitical tensions in various regions.
Photo: Ralf Roletschek