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ECONOMY | Staff Reporter, Hong Kong
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HK imports rise 9.1% in September

Total import value for the territory was $392b, whilst total export value was $379.3b.

Hong Kong’s total exports and imports in September both saw YoY increases, at 9.1% and 3.4%, respectively, according to the Census and Statistics Department’s (C&SD) report on 28 October.

The total value of exports of goods rose to $379.3b in September, after a 2.3% YoY decrease recorded in August.

Meanwhile, the total value of imports of goods jumped to $392b in September, after a 5.7% YoY fall in August. A visible trade deficit of $12.7b, equivalent to 3.2% of the value of imports of goods, was also recorded in September.

On a seasonally adjusted basis, the total value of exports in Q3 grew 4.4% compared to the preceding quarter. Concurrently, the total value of imports in Q3 climbed 3.6% compared to the quarter prior.

In comparing September 2020 with September 2019, increases were recorded in total exports of electrical machinery, apparatus, and appliances, and electrical parts (by $28.7b or 19.7%), office and automatic data processing machines (by $6b or 18.1%) and telecommunications and sound recording and reproducing apparatus and equipment (by $3.6b or 5.7%), said C&SD.

However, decreases were registered in total exports of nonmetallic mineral manufactures (by $2.8b or 19.2%), articles of apparel and clothing accessories (by $2.2b or 26.2%) and photographic apparatus, equipment and supplies, optical goods, watches, and clocks (by $1.1b or 12%).

Over the same period of comparison, increases were recorded the values of imports of electrical machinery, apparatus and appliances, and electrical parts (by $23.3b or 15.7%), office machines and automatic data processing machines (by $4.4b or 15.4%) and essential oils and resinoids and perfume materials; toilet, polishing and cleansing preparations (by $2.6b or 66.7%).

On the other hand, decreases were seen in the values of imports of nonmetallic mineral manufactures (by $4.3b or 26.4%), telecommunications and sound recording and reproducing apparatus and equipment (by $3.4b or 5.3%) and miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares) (by $3.1b or 13.7%).

For the first nine months of 2020 as a whole, YoY increases were seen in the values of total exports of electrical machinery, apparatus and appliances, and electrical parts (by $86.6b or 7.6%) and office machines and automatic data processing machines (by $20.9b or 7.2%).

Concurrently, YoY decreases were registered in total exports of telecommunications and sound recording and reproducing apparatus and equipment (by $63.9b or 12%), miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares) (by $40.1b or 23.5%), non-metallic mineral manufactures (by $36.3b or 30.3%) and articles of apparel and clothing accessories (by $26.9b or 36.5%).

Within the same period of comparison, YoY increases were seen in total imports of electrical machinery, apparatus and appliances, and electrical parts (by $57b or 4.6%) and power generating machinery and equipment (by $9.6b or 14.2%).

Simultaneously, YoY decreases were registered in total imports of nonmetallic mineral manufactures (by $53b or 38.1%), telecommunications and sound recording and reproducing apparatus and equipment (by $45.4b or 9.2%) and miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares) (by $41.2b or 20.8%).

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