The value of total goods exports rose 7.8% in April over the same month last year, to $172.5 billion, after a year-on-year increase of 3.5% in March.

Within this total, the value of re-exports rose 8.9% to $164.4 billion, but the value of domestic exports dropped 10.3% to $8 billion. The value of goods imports rose 3.8% over a year earlier to $182.7 billion.

A visible trade deficit of $10.2 billion, equivalent to 5.6% of the value of goods imports, was recorded in April.

Trade outlook overshadowed by strong US dollar

The Census & Statistics Department today said the trade outlook is overshadowed by a number of recent developments.

They include the recent strengthening in the US dollar; the somewhat weaker regional outlook; and rising protectionism from the US and EU against Mainland's textile and clothing exports.

How these developments unfold will affect our near-term trade outlook and therefore warrants close monitoring, the department added.

Re-exports rise in value

For the first four months of 2005, the value of total goods exports rose 9.9% over the same period in 2004. Within this total, the value of re-exports went up 11%, while the value of domestic exports dropped 7.7%.

At the same time, the value of goods imports also fell, by 6.9%. A visible trade deficit of $35.3 billion, equivalent to 5.1% of the value of goods imports, was recorded in the first four months of 2005.

Comparing the three-month period ending in April with the preceding three months on a seasonally adjusted basis, the value of total goods exports dropped 6.9%. Within this total, the value of re-exports dropped 6.3%, and the value of domestic exports went down 17.1%. The value of goods imports fell 3.8%.

Re-exports to East Asia, Europe strong

Comparing April 2005 with April 2004, increases were registered in the values of re-exports to most major destinations, in particular Germany (+27.6%), France (+19.2%), Singapore (+16.2%), Japan (+13.9%) and the United Kingdom (+12.5%).

Decreases were registered in the values of domestic exports to many major destinations, in particular Germany (-60.6%), the United Kingdom (-30.9%), the Philippines (-28.1%) and the United States (-26.8%). However, an increase was registered in the value of domestic exports to the Netherlands (+27.1%).

Over the same periods of comparison, increases were registered in the value of imports from many major suppliers, in particular India (+20.6%), the Mainland  (+11.4%) and the US (+8%). However, decreases were registered in the values of imports from Germany (-23.5%) and Japan (-9.3%).