This aerial photo shows the container terminal at Tsing Yi in Hong Kong on Feb 28, 2022. (PHOTO / AFP)

HONG KONG – The value of Hong Kong's total exports decreased to HK$338.3 billion in April, down 13 percent year-on-year, the Census and Statistics Department announced today.

The value of imports of goods decreased 11.9 percent to HK$374.9 billion for the same period, data published by the department showed.

A trade deficit of HK$36.6 billion, or 9.8 percent of the value of imports, was recorded in April.

Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports rose 15.4 percent, while that of imports increased 10.7 percent.

The government noted that the value of merchandise exports declined further from a year earlier in April. 

Exports to the Chinese mainland, the United States and the European Union all shrank and exports to other major Asian markets recorded decreases of varying degrees, said a government spokesman.

“Looking ahead, the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the mainland economy should provide some relief,” the spokesman said in a statement, adding that the government will monitor the situation closely.