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ECONOMY | Tony Chua, Hong Kong
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Imports and exports in Hong Kong soar

The value of total goods exports rose 17% while the value of goods imports increased 15.8% for the first five months this year.

The values of Hong Kong’s total goods exports and imports both recorded year-on-year increases in May, at 10.1% and 13%, according to the Census & Statistics Department.

The value of total goods exports, comprising re-exports and domestic exports, rose 10.1% to $279.9 billion, after a year-on-year increase of 4.1% in April.

Within this total, the value of re-exports increased 10.3% to $273.8 billion, while the value of domestic exports increased 2.4% to $6.1 billion.

The value of goods imports rose 13% to $315.6 billion, after a year-on-year increase of 6.1% in April. A visible trade deficit of $35.7 billion, 11.3% of the value of goods imports, was recorded during the month.

For the first five months this year, the value of total goods exports rose 17% over the same period in 2010, while the value of goods imports increased 15.8%. A visible trade deficit of $159.3 billion, 10.7% of the value of goods imports, was recorded.

Comparing the three-month period ending May with the preceding three-month period, the value of total goods exports decreased 2.8%, while the value of goods imports increased 0.1%.

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