Sep. 26, 2012 (China Knowledge) - The value of Hong Kong
's exports of goods rose 0.6% YoY to HK$311.7 billion in August this year, after a YoY decrease of 3.5% in July, according to the latest figures from the Census and Statistics Department.
Last month, the value of re-exports totaled HK$306.2 billion, up 0.7% YoY, while the value of domestic exports decreased by 7.2% to HK$5.5 billion.
The value of Hong Kong's imports of goods totaled HK$347.7 billion last month, up 0.9% YoY. The city recorded trade deficit of HK$36 billion, equivalent to 10.4% of the value of imports of goods during the period.
The city's exports to the Asian market grew 4.8% in August. There was a 10.2% increase in exports to Malaysia, a 8.5% increase in exports to mainland China and a 4.8% increase in exports to Japan.
As for some other major destinations in other regions, the city's exports to the U.S. decreased 5.4% YoY in August, while exports to Germany and the U.K. decreased 19.9% and 19.8% YoY, respectively.
In the first eight months of this year, the value of total exports of goods decreased by 0.2% over the same period of 2011. Of the total, the value of re-exports increased by 0.1%, while the value of domestic exports decreased by 15.6%.
Meanwhile, the value of imports of goods increased 0.9% during the eight-month period. A trade deficit of HK$297.8 billion, equivalent to 11.9% of the value of imported goods, was recorded during the reporting period.