Hong Kong’s Total Exports and Imports Up 8.6% and 9.8%
Source: Census and Statistics Department Date: 2007-08-29
The Census and Statistics Department (C&SD) released August 27 the external merchandise trade statistics for July 2007. In July 2007, the values of Hong Kong’s total exports and imports of goods recorded year-on-year increases of 8.6% and 9.8% respectively.
In July 2007, the value of total exports of goods (comprising re-exports and domestic exports) increased by 8.6% over a year earlier to $238.5 billion, after a year-on-year increase of 11.1% in June 2007. Within this total, the value of re-exports increased by 10.9% to $228.1 billion in July 2007, whereas the value of domestic exports decreased by 25.1% to $10.5 billion.
Concurrently, the value of imports of goods increased by 9.8% over a year earlier to $246.7 billion in July 2007, after a year-on-year increase of 13.0% in June 2007. A visible trade deficit of $8.2 billion, equivalent to 3.3% of the value of imports of goods, was recorded in July 2007.
For the first seven months of 2007 as a whole, the value of total exports of goods rose by 10.1% over the same period in 2006. Within this total, the value of re-exports increased by 12.4%, whereas the value of domestic exports decreased by 25.7%. Concurrently, the value of imports of goods increased by 10.7%.
A visible trade deficit of $102.7 billion, equivalent to 6.5% of the value of imports of goods, was recorded in the first seven months of 2007 as a whole.
Comparing the three-month period ending July 2007 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods decreased marginally by 0.1%. Within this total, the value of re-exports decreased marginally by 0.1%, whereas the value of domestic exports went up by 0.6%. Meanwhile, the value of imports of goods decreased by 0.6%.
Analysis by country/territory:
Comparing July 2007 with July 2006, significant increases were registered in the values of total exports to many major destinations, in particular Germany (+20.1%), France (+18.6%), the mainland of China (the Mainland) (+13.3%) and the Netherlands (+12.7%).
Over the same period of comparison, significant increases were registered in the values of imports from most major suppliers, in particular India (+49.9%), Singapore (+22.3%), Malaysia (+13.7%), Korea (+13.0%) and the Mainland (+10.4%).
For the first seven months of 2007 as a whole, year-on-year increases were registered in the values of total exports to most major destinations, in particular the Mainland (+14.4%), France (+9.3%), the Netherlands (+9.2%), Germany (+7.2%) and Taiwan (+6.5%).
Over the same period of comparison, year-on-year increases were registered in the values of imports from all major suppliers, in particular India (+25.3%), Singapore (+20.2%), the Mainland (+13.1%), the United States of America (+11.7%) and Japan (+7.8%).
