The value of Hong Kong’s total goods exports dropped 1.2% year-on-year in January, while that of goods imports decreased 2.7%, the Census & Statistics Department announced today.
The value of goods exports totalled $296.3 billion. Within this total, the value of re-exports decreased 1.1% to $293.1 billion, while the value of domestic exports dropped 5.3% to $3.2 billion.
The value of goods imports decreased 2.7% to $308.6 billion.
A visible trade deficit of $12.3 billion, equivalent to 4% of the value of goods imports, was recorded in January.
Comparing the three-month period ending in January with the preceding three months on a seasonally adjusted basis, the value of total goods exports increased 5.2%. Within this total, the value of re-exports increased 5.2%, while that of domestic exports went down 1.2%. The value of goods imports increased 3.6%.
The department said although the value of goods exports decreased slightly year-on-year in January, the month’s trade figures were distorted by the difference in the timing of the Lunar New Year, which fell in late January this year but early February last year.
Despite the recent improvement in global economic conditions, the external trading environment is still subject to uncertainties caused by events like the US interest rate normalisation, future US trade policy direction and the unfolding Brexit situation.
