The Census and Statistics Department announced that Hong Kong’s overall export value in July increased by 13.1% year-on-year, and imports recorded the largest increase since January this year, increasing by 9.9%. Both accelerated by 2.4 and 0.9 percentage points respectively compared with June, and rose for five consecutive months.
In July, a visible trade deficit of HK$21.8 billion was recorded, equivalent to 5.3% of the value of merchandise imports.
Last month, the value of exports to the mainland increased by 23% year-on-year, exports to the United States increased by 19.7%, exports to the Netherlands increased by 78.9%, but exports to the United Kingdom fell by 31%. The value of imports from the mainland increased by 12.2%, while imports from Thailand fell by 43.4%.
Exports rose by more than 12% in the first seven months
In the first seven months of this year, Hong Kong’s exports rose by 12.4% year-on-year, imports rose by 8%, and the visible trade deficit was HK$182.8 billion, equivalent to 6.6% of the value of merchandise imports.
A government spokesman said that the value of exports continued to record double-digit year-on-year growth in July. Exports to the Mainland, the United States and the European Union continued to expand significantly, but exports to other major Asian markets performed mixed. Looking ahead, if external demand remains stable, Hong Kong’s positive export performance should be able to continue, and the government will closely monitor the situation.