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ECONOMY | Staff Reporter, Hong Kong
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Exports to the Mainland slump 7.3% in September

Overall, the value of Hong Kong's total exports of goods fell 3% compared to that in September 2010. Meanwhile the value of imports of goods increased by 2.3% over a year earlier.

The Census and Statistics Department said:

In September 2011, the value of total exports of goods (comprising re-exports and domestic exports) decreased by 3.0% over a year earlier to $271.8 billion, after a year-on-year increase of 6.8% in August 2011. Within this total, the value of re-exports decreased by 2.7% to $266.9 billion in September 2011, while the value of domestic exports decreased by 18.6% to $4.9 billion. Concurrently, the value of imports of goods increased by 2.3% over a year earlier to $311.8 billion in September 2011, after a year-on-year increase of 14.1% in August 2011. A visible trade deficit of $40.0 billion, equivalent to 12.8% of the value of imports of goods, was recorded in September 2011.

Analysis by country/territory

Comparing September 2011 with September 2010, total exports to Asia as a whole went down by 2.9%. In this region, decreases were registered in the values of total exports to some major destinations, in particular the mainland of China (the Mainland) (-7.3%) and Japan (-1.5%).

Apart from destinations in Asia, decreases were also registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (-12.6%), the USA (-8.9%) and Germany (-0.7%).

Concurrently, increases were registered in the values of total exports to some major destinations, in particular Taiwan (+25.0%), Thailand (+15.8%), Korea (+8.9%), India (+5.7%) and Singapore (+0.1%).

Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Switzerland (+50.9%), India (+18.7%), Thailand (+5.6%), the USA (+2.3%) and the Mainland (+0.8%). Concurrently, decreases were registered in the values of imports from some major suppliers, in particular Malaysia (-12.2%), Singapore (-10.9%), Korea (-3.8%), Taiwan (-2.7%) and Japan (-2.0%).

Analysis by major commodity

Comparing September 2011 with September 2010, decreases were registered in the values of total exports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $12.1 billion or -16.0%), "articles of apparel and clothing accessories" (by $1.5 billion or -8.0%) and "miscellaneous manufactured articles (mainly baby carriages, toys, games and sporting goods)" (by $0.3 billion or -1.4%). However, increases were registered in the values of total exports of "telecommunications and sound recording and reproducing apparatus and equipment" (by $4.2 billion or 8.9%), "non-metallic mineral manufactures" (by $1.0 billion or 9.0%) and "office machines and automatic data processing machines" (by $0.5 billion or 1.4%).

Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular "telecommunications and sound recording and reproducing apparatus and equipment" (by $5.3 billion or 12.3%), "non-metallic mineral manufactures" (by $4.5 billion or 31.2%) and "miscellaneous manufactured articles (mainly baby carriages, toys, games and sporting goods)" (by $2.8 billion or 14.0%). However, decreases were registered in the values of imports of "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $12.7 billion or -14.5%), "articles of apparel and clothing accessories" (by $0.8 billion or -6.1%) and "plastics in primary forms" (by $0.3 billion or -4.9%).

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