Hong Kong's total exports value up 10.1% to $340.3b

But domestic exports dropped 2.9% to $3.6b.

Hong Kong’s total exports’ value rose 10.1% in December over a year earlier to $340.3 billion, compared to a year-on-year increase of 8.1% in November, the Census & Statistics Department announced.

Within this total, re-exports’ value rose 10.2% to $336.7 billion, while that of domestic exports dropped 2.9% to $3.6 billion. Imports’ value increased 8.7% to $385.8 billion, compared to a year-on-year increase of 7.6% in November.

For 2016 as a whole, total exports’ value dropped 0.5% on 2015. Within this total, re-exports’ value decreased 0.4%, while domestic exports’ value decreased 8.5% and imports’ value dropped 0.9%.

A visible trade deficit of $420.1 billion, or 10.5% of imports’ value, was recorded in 2016. Comparing the fourth quarter in 2016 with the preceding three months on a seasonally-adjusted basis, total exports’ value increased 4.3%. Within this total, re-exports’ value increased 4.4%, while domestic exports’ value fell 1.6% and imports’ value increased 2.6%.

The department said the notable increase in exports’ value in December was caused by more regional trade flows and stronger market performance of the Mainland and across Asia.

However, the external trading environment is still subject to uncertainties caused by events like the US interest rate normalisation, future US trade policy direction and the unfolding Brexit situation.