In 2003, Hong Kong earned $116.5 billion in terms of gross margin and commissions from offshore trade, up 13.1% over 2002.

The Census & Statistics Department said the sales value of the goods involved totalled about $1.7 trillion, up 14.3%.

By comparison, the value of re-exports rose 13.4% to $1.62 trillion. The rate of re-export margin was 17.9%.

Analysed by destination of exports of services relating to offshore trade, the mainland of China was the largest destination in terms of offshore trade earnings, accounting for 31% of the total margin/commission earned in 2003. This was followed by the United States (27.5%), Japan (6.6%), Germany (4.3%) and the United Kingdom (3.8%).

The Mainland was the largest destination for goods sold through offshore trade, accounting for 37.5% of the total value. It was followed by the US (17.8%), Japan (7.8%), Taiwan (4.2%) and South Korea (4%).

Offshore trade robust, exceeds re-exports value

Offshore trade remained highly robust in 2003, with gross margin and commissions from offshore trade attaining a marked growth on the back of buoyant global and regional demand in that year.

The total sales value of goods involved in offshore trade in 2003 continued to exceed the value of re-exports.  In terms of growth rate, the growth in total sales value of goods involved in offshore trade was also somewhat faster than the growth in re-exports in 2003.

These figures reflect the increasingly prominent role of offshore trade in Hong Kong's external trade and also as a growth driver of the economy.