Hong Kong posts double-digit import-export growth in August

Exports to Asia grew 41% especially to Thailand, Vietnam and China.

The value of Hong Kong's total goods exports and imports in August grew 36% and 28.4% year-on-year, the Census & Statistics Department says.

The value of total goods exports, comprising re-exports and domestic exports, grew 36% over a year earlier to $290.1 billion, after a year-on-year increase of 23.3% in July.

Within this total the value of re-exports rose 36.3% to $283.9 billion in August while the value of domestic exports rose 23.2% to $6.2 billion.

Concurrently, the value of goods imports rose 28.4% over a year earlier to $302 billion in August. A visible trade deficit of $11.9 billion, equivalent to 3.9% of the value of goods imports, was recorded.

For the first eight months of the year the value of total goods exports rose 26.4% over the same period last year. The value of goods imports grew 30.4%.

A visible trade deficit of $220.6 billion, equivalent to 10.2% of the value of goods imports, was recorded in this year's first eight months.

Meanwhile, total exports to Asia as a whole grew 40.7% in August, compared to last year. Particular strong increases were registered in the values of total exports to Thailand (+58.8%), Vietnam (+55.2%) and the Mainland (+44.7%).

Significant increases were also recorded in the values of imports from all major suppliers, especially Singapore (+38.1%), the US (+35.2%) and Japan (+34.9%).

For the first eight months of this year, significant year-on-year rises were registered in the values of total exports to all major destinations, particularly India (+44.2%), Taiwan (+38%) and the Mainland (+32.9%).