Hong Kong records $16B trade deficit

Hong Kong recorded a trade deficit of 16 billion Hong Kong dollars in January.

Hong Kong's goods exports rose 27.6 percent year-on-year in January to 283.7 billion HK dollars, while the imports increased 19 per cent over a year earlier to 299.6 billion HK dollars.

According to Hong Kong's Census and Statistics Department, the value of re-exports grew 28.1 percent to 277.6 billion HK dollars in January, while the value of domestic exports rose 9.1 percent to 6.1 billion HK dollars.

Moreover, comparing the three-month period ending January with the preceding three months on a seasonally adjusted basis, the value of total goods exports rose 4.7 percent while the value of goods imports increased 5.6 per cent.

The value of re-exports grew 4.5 percent while the value of domestic exports went up 14.1 per cent.