The value of total goods exports rose 6.7% in December over the same month last year, to $188.8 billion, after a year-on-year increase of 11.5% in November, the Census & Statistics Department says.

Within this total, the value of re-exports rose 5.6% to $174.8 billion, while the value of domestic exports grew 22.2% to $14 billion. 

In the same period, the value of goods imports soared 10.6% over a year earlier to $205.6 billion in December, after a year-on-year increase of 13.6% in November.

A visible trade deficit of $16.9 billion, or 8.2% of the value of goods imports, was recorded in December.

For 2005, the value of total goods exports rose 11.4% over 2004. Within this total, the value of re-exports increased 11.7%, and the value of domestic exports went up 8%.

The value of goods imports also grew 10.3%. A trade deficit of $79.3 billion - or 3.4% of the value of goods imports - was recorded in 2005.

Comparing the fourth quarter of 2005 with the third quarter on a seasonally adjusted basis, the value of total goods exports rose 1.7%.

Within this total, the value of re-exports increased 0.7%, and the value of domestic exports went up 16.1%. The value of goods imports increased 2.6%.

Re-exports growth slackened

The Census & Statistics Department said merchandise exports continued to grow solidly in December, but at a less rapid pace than in the preceding months. Domestic exports sustained double-digit growth for the fifth month in a row, underscoring better job opportunities for the local manufacturing workforce.

However, there was a slowdown in the growth of re-export trade, partly reflecting the drop in the re-exports of textile and clothing products towards the year's end.

Observations over the coming months will show whether this is only a temporary trend.