Exports value climbs 14.8% in May

There were significant gains in electrical machinery.

The value of exports rose 14.8% YoY to $375.9b in May.

Most principal commodity divisions registered increases in exports value led by "electrical machinery, apparatus and appliances, and electrical parts thereof" ($24.7b or +16.3%) and "office machines and automatic data processing machines" ($12.8b or +43.4%).

Data from the Census & Statistics Department (C&SD) also showed that total exports to Asia grew by 18.7% YoY.

Apart from destinations in Asia,  some major destinations in other markets, particularly the USA (+26.6%), registered increases in the value of total exports.

The value of imports of goods likewise increased in May, rising by 9.6% YoY to $388.1b.

With the uptick in exports and imports, the trade deficit clocked in at $105.2b or 5.5% of the value of imports.

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