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Hong Kong's export growth slows to 5.6% in Apr

May. 25, 2012 (China Knowledge) - The value of Hong Kong's exports of goods rose 5.6% YoY to HK$266.3 billion in April this year, after rising 6.8% YoY in March, according to the latest figures from the Census and Statistics Department.

Last month, the value of re-exports totaled HK$261.5 billion, up 6.3% YoY, while the value of domestic exports decreased by 20.9% to HK$4.7 billion.

The value of Hong Kong's imports of goods totaled HK$309.1 billion last month, up 5.0% YoY. The city recorded trade deficit of HK$42.9 billion, equivalent to 13.9% of the value of imports of goods during the period.
The city's exports to the Asian market grew 5.8% in April. There was a 27.5% increase in exports to Vietnam, a 17.3% increase in exports to Malaysia, a 7.4% increase in exports to Japan and 7.2% increase in exports to Singapore and 6.2% increase to mainland China.

As for some other major destinations in other regions, the city's exports to the U.S. rose 15.4% YoY in April, while exports to Germany and the U.K. decreased 21.5% and 2.5% YoY, respectively.
In the first four months of this year, the value of total exports of goods rose by 0.3% over the same period of 2011. Of the total, the value of re-exports increased by 0.8%, while the value of domestic exports decreased by 23.3%. Meanwhile, the value of imports of goods increased by 1.8%. A trade deficit of HK$141.3 billion, equivalent to 11.9% of the value of imported goods, was recorded during the reporting period.

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