The value of Hong Kong’s total exports increased to $375.9 billion in May, up 14.8% on the same month last year, the Census & Statistics Department announced today.

The value of imports of goods increased 9.6% to $388.1 billion in the same period.

A trade deficit of $12.1 billion, or 3.1% of the value of imports, was recorded in May.

Comparing the three-month period ending May with the preceding three months on a seasonally adjusted basis, the value of exports rose 1.5%, while that of imports fell 1.7%.

The Government said the value of merchandise exports posed further double-digit growth in May from a year earlier. Exports to the Mainland and the US continued to rise notably, while those to the European Union turned to an increase. Those to many other major Asian markets also recorded growth.

Looking ahead, it added that Hong Kong’s export performance should stay positive if external demand holds up well, though geopolitical tensions will continue to bring uncertainties.