Published: 18:39, June 25, 2024
Hong Kong’s May exports value rises 14.8%
By Wang Zhan
A container ship passes by residential apartment blocks on Hong Kong Island on Feb 13, 2024. (SHAMIM ASHRAF / CHINA DAILY)

HONG KONG – The value of Hong Kong’s total exports increased to HK$375.9 billion in May, up 14.8 percent year-on-year, according to the Census and Statistics Department.

The value of imports of goods increased 9.6 percent to HK$388.1 billion during the same period, data released by the department on Tuesday showed.

A trade deficit of HK$12.1 billion, or 3.1 percent of the value of imports, was recorded last month.

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Comparing the three-month period ending May with the preceding three months on a seasonally adjusted basis, the value of exports rose 1.5 percent, while that of imports fell 1.7 percent.

The value of merchandise exports posed further double-digit growth in May from a year earlier, said the special administrative region government.

Exports to the Chinese mainland and the United States continued to rise notably, while those to the European Union turned to an increase, the government said, adding that exports to many other major Asian markets also registered growth.

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Looking ahead, the government said Hong Kong’s export performance should stay positive if external demand holds up well, though geopolitical tensions will continue to bring uncertainties.