In this July 18, 2020 photo, shipping containers are seen stacked on top of each other at a cargo terminal in Hong Kong. (ISAAC LAWRENCE / AFP)

The value of Hong Kong's total goods exports increased to HK$389 billion ($49.56 billion) in April, up 1.1 percent from the same period last year, the Hong Kong Special Administrative Region government said Thursday.

According to figures released by the Census and Statistics Department, the value of imports of goods also increased 2.1 percent to HK$425.6 billion, after a year-on-year decrease of 6.0 percent in March.

A trade deficit of $36.6 billion, equivalent to 8.6 percent of the value of imports, was recorded for the month.

A trade deficit of $36.6 billion, equivalent to 8.6 percent of the value of imports, was recorded for the month

Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports decreased 12.0 percent while that of imports decreased 11.7 percent.

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An HKSAR government spokesman said that the value of exports resumed meagre growth in April as pandemic-induced transportation disruptions, though easing somewhat in the latter part of the month, continued to constrain export performance.

Exports to the Chinese mainland fell while exports to the United States and the European Union posted visible growth. Exports to other major Asian markets saw increases of varying degrees.

Looking ahead, the spokesman said the global economic outlook has worsened amid rampant inflation in some major economies and monetary policy tightening by their central banks, the tensions in Ukraine, and the lingering threat of the pandemic.

This would continue to weigh on Hong Kong's export performance in the near term, the spokesman said. However, the stable local pandemic situation should be conducive to the gradual revival of cross-boundary land transportation, alleviating some of the pressure. The government will monitor the situation closely.

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