Exports value climbs 13.1% in July

There were significant gains in electrical machinery.

The value of exports rose 13.1% YoY to $390.4b in July.

Principal commodity divisions which registered increases in export value include "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $22.1 billion or +13.7%) and "office machines and automatic data processing machines" (by $20.5 billion or +62.3%).

Data from the Census & Statistics Department (C&SD) also showed that total exports to Asia grew by 15.7% YoY.

Apart from destinations in Asia,  some major destinations like the Netherlands (+78.9%) and the USA (+19.7%) registered increases in the value of total exports.

The value of imports of goods likewise increased in July, rising by 9.9% YoY to $412.3b.

With the uptick in exports and imports, the trade deficit clocked in at $21.8b or 5.3% of the value of imports.

The government believes Hong Kong’s export performance will stay positive "if external demand holds up."