ECONOMY | Staff Reporter, Hong Kong

Value of total exports, imports flourished in November: CS&D

Total exported goods hit $379.6b, whilst total imported goods reached $405.2.

The value of Hong Kong’s total exports and imports rose 5.6% and 5.1% respectively in November, according to data released by the city’s Census & Statistics Department (CS&D).

The value of total exported goods reached $379.6b in November after a 1.1% YoY drop in October. Concurrently, the value of imported goods rose $405.2 billion in the same month. On the other hand, a visible trade deficit of $25.6 billion, equivalent to 6.3% of the value of imported goods, was also recorded.

Total exports to Asia as a whole grew 5.7%, with spikes registered in some major destinations such as Taiwan (+19.4%), Vietnam (+14.3%), the Philippines (+10.5%), mainland China (+8%) and Japan (+1.5%). On the other hand, decreases were recorded in the values of total exports to Singapore (-21.2%) and India (-14.3%).

Hikes were also seen in the values of total exports to some major destinations in other regions, particularly Germany (+7.1%) and the US (+1.5%).

In terms of import values, increases were recorded from some major trade partners, particularly Korea (+20.8%), Taiwan (+19.4%), Vietnam (+15.3%), Singapore (+8.1%) and Mainland China (+4.3%). Concurrently, decreases were recorded in the values of imports from Malaysia (-9.9%) and the US (-7.7%).

The values of total exports of some principal commodity divisions picked up, such as electrical machinery, apparatus and appliances, and their electrical parts (10.5%), non-ferrous metals (177.2%) and office and automatic data processing machines (6.1%). On the other hand, declines were seen in the total export values of power-generating machinery (-33.2%), telecommunications and sound-recording equipment (-4.2%), and apparel and clothing accessories (-25.5%).

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