Hong Kong's goods exports in February up 7.6%
Updated: 2008-03-28 15:15
Hong Kong Special Administrative Region recorded a total goods exports of 184.4 billion HK dollars ($23.64 billion) in February, representing a year-on-year growth of 7.6 percent, lower than January's growth of 15.8 percent, the Hong Kong Special Administrative Region government said Thursday.
Goods imports in the same month grew by 11.9 percent, leading to a visible trade deficit of 23.3 billion HK dollars, the Census and Statistics Department said in a report.
"Merchandise exports remained vibrant stepping into 2008, posting a double digit growth in the first two months combined," a department spokesman said.
Within the total exports, re-exports were up 7.8 percent to 178.1 billion HK dollars and domestic exports added 1.1 percent to 6.3 billion HK dollars.
In analysis by country or region, exports to Asia in the month went up by 15 percent, with an surge of 126.6 percent in exports to India, 42.1 percent for Vietnam, 30.2 percent for Thailand, 20.1 percent for Indonesia and 18.2 percent for Malaysia.
Exports to the Chinese mainland in February added 14 percent.
Exports to Germany went up by 10.1 percent, in contrast to decreases of 15.9 percent and 12.5 percent, respectively, in exports to Britain and the United States.
The month saw a growth of 19 percent in exports of telecommunications and sound recording and reproducing apparatus and equipment, the spokesman said.
Looking ahead, the spokesman said the external environment would be dominated by uncertainties due to a weakening US economy and volatile financial markets.
But strong growth momentum in emerging economies should continue to support Hong Kong's external trade, he added.
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