Hong Kong’s total exports to China down by 6.8% YoY in Q1
This translates to a total of $125.5b worth of exports.
The value of Hong Kong’s total exports to Mainland China reached $125.5b in the first quarter (Q1) of 2022, which is down 6.8% compared to the same period last year, the Census of Statistics and Department said.
As for value of imports from Mainland China to outward processing in the Mainland, it also posted $154.4b, which declined by 6.8% in Q1 2022 compared to the Q1 2021.
However, Hong Kong’s re-exports to Mainland was valued at $193.8b in Q2 2022, an increase of 1.9% compared to the figures in Q1 2021.
READ MORE: Export growth to slow down to 8% in 2022: HKTDC
Also, it was noted that Hong Kong’s total exports to Mainland China was at 19.2% in Q1 2022, lower than the 20.4% posted in the same period last year.
Meanwhile, 31.1% of Hong Kong’s imports from Mainland China in Q1 2022 were related to outward processing, declined from the 32.5% in the first quarter of 2021.
In Q1 2022, 59.8% of Hong Kong's re-exports of Mainland origin to other places were produced through outward processing in the Mainland, which is the same figure in Q1 2021.
READ MORE: Hong Kong exports rise 26.1% in June