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HK's exports down 2.8% in Oct

Nov. 28, 2012 (China Knowledge) - The value of Hong Kong's exports of goods dropped 2.8% YoY to HK$297 billion in October this year, after a YoY increase of 15.2% in September, according to the latest figures from the Census and Statistics Department.

Last month, the value of re-exports totalled HK$292.2 billion, down 2.7% YoY, while the value of domestic exports decreased by 8.2% to HK$4.8 billion.

The value of Hong Kong's imports of goods totalled HK$339.7 billion last month, up 3.3% YoY. The city recorded trade deficit of HK$42.7 billion, equivalent to 12.0% of the value of imports of goods during the period.
The city's exports to the Asian market declined 1.8% in October. There was a 23% decrease in exports to India, a 13.5% increase in exports to South Korea, a 9.4$ decrease in exports to Japan and a 8.1% decrease in exports to Philippines.

As for some other major destinations in other regions, the city's exports to the Germany, U.S. and the U.K. decreased 7.7%, 2.4% and 5.5% YoY in October, respectively.
In the first ten months of this year, the value of total exports of goods increased by 1% over the same period of 2011. Of the total, the value of re-exports increased by 1.3%, while the value of domestic exports decreased by 12.7%.

Meanwhile, the value of imports of goods increased 2.6% during the ten-month period. A trade deficit of HK$385.7 billion, equivalent to 12% of the value of imported goods, was recorded during the reporting period.

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