Hong Kong March exports up 13.7%

The volume of total exports climbs 17.7%, and the volume of imports soars by 12.9% in the first quarter.

The volume of Hong Kong’s goods re-exports grew 14.1% in March, year on year, while that of domestic exports fell 3.8%. Taken together, the volume of total exports rose 13.7%. Concurrently, the volume of imports increased 11%.

The Census & Statistics Department said, taken together, the volume of total exports grew 17.7%, and the volume of imports rose 12.9% in the first quarter. The volume of Hong Kong’s goods re-exports grew 18.2% while that of domestic exports fell 4.1%.

Comparing the first quarter of 2011 with the fourth quarter of 2010 on a seasonally adjusted basis, the volume of total exports rose 16.3%. Within this total, the volume of re-exports grew 16.6%, while that of domestic exports rose 0.4% and the volume of imports of goods rose 12.1%.

In March, the prices of re-exports of goods grew 8.3%, while those of domestic exports increased 6.8%, year on year. Taken together, the prices of total exports of goods increased 8.3% and the prices of imports of goods grew 9.4%.

Total export volume to Taiwan rose sharply by 34.6% in March, year on year, with the export volume to Germany, the Mainland, the US and Japan increasing 13.3%, 12.3%, 7% and 4.8%. Total export prices to all main destinations including the US , Taiwan, the Mainland, Germany and Japan also recorded increases of 8.9%, 8.6%, 8.1%, 7.5% and 7.4%.

Double-digit increases were recorded for the import volume from Singapore (20.6%), the Mainland (12.8%), the US (12.8%) and Taiwan (10.8%), while the import volume from Japan decreased 5.7%. The import prices from all main suppliers, including Singapore, Japan, the Mainland, the US and Taiwan also increased 13.1%, 11.4%, 9.1%, 6.5% and 3.7%.