Hong Kong's export growth up a measly 0.3%

While imports climbed only 1.6%.

In a report, the Census & Statistics Department announced that the volume of total goods exports in the first two months of this year grew 0.3% year-on-year and the volume of goods imports increased 1.6%.

As the trade flows in January and February of each year tend to show considerable volatility due to differences in timing of the Lunar New Year holiday, the department said it is useful to analyse the trade figures for these two months taken together.

It said the volume of goods re-exports in the first two months grew 0.4%, while that of domestic exports decreased by 7.2%.

In February, the volume of goods re-exports fell 16.7% year-on-year, while that of domestic exports fell 27.6%. Taken together, the volume of total goods exports dropped 16.8%. Concurrently, the volume of goods import decreased 18.1%.

On the price changes in the first two months over the same period in 2012, the prices of goods re-exports increased 0.3%, while those of domestic exports rose 4.3%. Taken together, the prices of total goods exports grew 0.4%. Concurrently, the prices of goods imports increased 0.9%.

In February, the prices of goods re-exports grew 0.4%, while those of domestic exports rose 4.3%. Taken together, the prices of total goods exports increased 0.5%. Concurrently, the prices of goods imports rose 1%.