Statistics

Hong Kong's exports up 10.1% in May

(Xinhua)
Updated: 2011-06-29 14:32

HONG KONG - The values of Hong Kong's total goods exports and imports both recorded year-on-year increases in May, at 10.1 percent and 13 percent respectively, the Census & Statistics Department of the city government said Tuesday.

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During the month, the value of total goods exports, comprising re-exports and domestic exports, increased to HK$279.9 billion ($35.98 billion), after a year-on-year increase of 4.1 percent in April.

Concurrently, the value of goods imports increased to HK$315.6 billion, after a year-on-year increase of 6.1 percent in April.

For the first five months of the year as a whole, the value of total goods exports rose 17 percent over a year earlier, the value of goods imports increased 15.8 percent.

A visible trade deficit of HK$159.3 billion, equivalent to 10.7 percent of the value of goods imports, was recorded in the first five months.

Statistics showed total exports to Asia as a whole grew by 11 percent from a year gao. In this region, strong increases were registered in the values of total exports to most major destinations, Vietnam and Thailand in particular .

Merchandise exports rebounded in May, supported by the solid performance of many Asian and emerging markets, yet many advanced markets, including Japan and the US showed a weaker performance, commented a government spokesman after the release of the figures.

Looking ahead, the spokesman said while the disruptions to supply chains caused by the Japan earthquake may continue to affect trade flows in the coming months, attentions should also be paid to the sovereign debt problem in the eurozone, the unsteady recovery in the United States, and policy tightening in Asia.