Exports value rise 6.4% in August, easing from July's growth

July recorded a 13.1% YoY growth.

The value of exports rose 6.4% YoY to $381.3b in August, easing from the 13.1% YoY growth in July.

Principal commodity divisions which registered increases in export value include  "office machines and automatic data processing machines" ( $14.4b or +43.5%) and "electrical machinery, apparatus and appliances, and electrical parts thereof" ($13.0b or +7.5%).

Data from the Census & Statistics Department (C&SD) also showed that total exports to Asia grew by 9.9% YoY.

Outside Asia, particularly in  Switzerland (-62.0%) and the United Kingdom (-46.2%), the value of total exports declined.

The value of imports of goods likewise increased in August, rising by 7.9% YoY to $414.4b.

With the uptick in exports and imports, the trade deficit clocked in at $33.1b or 8.0% of the value of imports.

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