Hong Kong's January exports dipped 0.4% to $299.2b

Trade deficit is pegged at $20b.

According to a release, Hong Kong’s total exports’ and imports’ values in January recorded year-on-year decreases of 0.4% and 2.7%.

The Census & Statistics Department said the value of total goods exports - re-exports and domestic exports - decreased from a year earlier to $303.5 billion, having remained virtually unchanged from a year earlier in December 2013.

Within this total, re-exports' value decreased 0.4% to $299.2 billion, while domestic exports' value fell 4.3% to $4.3 billion. Goods imports' value dropped 2.7% over a year earlier to $323.4 billion, after a 1.8% year-on-year increase in December 2013.

A visible trade deficit of $20 billion, equivalent to 6.2% of goods imports' value, was recorded in January.

Comparing the three-month period ending January 2014 with the preceding three months on a seasonally adjusted basis, total goods exports' value rose 5.4%. Within this total, re-exports' value rose 5.4% and domestic exports' value rose 6.3%. Goods imports' value rose 4.8%.