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Hong Kong's export up 7.4% in Dec

Jan. 30, 2012 (China Knowledge) - The value of Hong Kong's exports of goods rose 7.4% year on year to HK$271.8 billion in December last year, after rising 2.0% year on year in November, according to the latest figures from the Census and Statistics Department.

In December 2011, the value of re-exports totaled HK$267.1 billion, up 8.3% year on year, while the value of domestic exports decreased by 26.5% to HK$4.7 billion.

The value of Hong Kong's imports of goods totaled HK$320.7 billion in the month, up 8.8% year on year. The city recorded trade deficit of HK$48.9 billion, equivalent to 15.3% of the value of imports of goods during the period.
The city's exports to the Asian market grew 11.4% in December. There was a 40.7% increase in exports to Vietnam, a 22.0% increase in exports to Malaysia, a 13.8% increase in exports to mainland China, but a 26.2% decrease in exports to Thailand and a 5.9% decrease in exports to Korea.

As for some other major destinations in other regions, the city's exports to Germany fell 0.1% year on year in December, while exports to the U.K. and the U.S. decreased 26.7% and 0.7% year on year, respectively.
In the whole of 2011, the value of total exports of goods rose by 10.1% from year 2010. Of the total, the value of re-exports increased by 10.5%, while the value of domestic exports decreased by 5.5%. Meanwhile, the value of imports of goods increased by 11.9%. A trade deficit of HK$427.3 billion, equivalent to 11.4% of the value of imported goods, was recorded during the reporting period.

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