Export volume climbs 34.3% in June

Shipments to the US posted the largest increase, surging 85.2% YoY.

Hong Kong’s export volume jumped 34.3% year-on-year (YoY) in June, whilst import volume rose 27.5%, according to the Census and Statistics Department (C&SD).

For the first half, total export volume increased 28.7% from a year earlier. Import volume climbed 30.4%.

On a seasonally adjusted basis, export volume rose 6.6% in the second quarter from the preceding quarter, whilst import volume grew 2.2%.

Among Hong Kong’s major export destinations, shipments to the US recorded the largest increase in the month, surging 85.2% YoY.

In addition, export volumes to Taiwan, Vietnam, and mainland China increased 60.5%, 40.5%, and 36.9%, respectively.

India was the only major destination to record a decline, with export volume falling 8.8%.

Meanwhile, import volumes from all major suppliers increased, with those from Korea jumping 109.2% and Vietnam rising 74.7%.

Import volume from Singapore climbed 27.9%, followed by mainland China at 25% and Taiwan at 2.2%.

Overall export prices rose 13.6% in June, whilst import prices increased 12.7%. For the first half, export and import prices were up 7.9% and 7.6%, respectively.

Amongst major export destinations, prices increased the most for goods shipped to mainland China at 15.9%, followed by the US at 13.3%, India at 11.9%, Vietnam at 10.5%, and Taiwan at 10.1%.

For imports, prices of goods from Korea climbed 31.3%, followed by Taiwan at 20%, Vietnam at 14.2%, mainland China at 12.1%, and Singapore at 10.1%.