The value of total exports of goods rose 9.4% in April over the same month last year to $188.8 billion, after a year-on-year increase of 14.7% in March. Within this total, the value of re-exports grew 8.6% to $178.5 billion, while the value of domestic exports rose 27.6% to $10.3 billion.

Concurrently, the value of imports of goods rose 11.2% over a year earlier to $203.2 billion, after a year-on-year increase of 16% in March. A visible trade deficit of $14.5 billion, equivalent to 7.1% of the value of imports of goods, was recorded.

Increases were registered in the values of re-exports to many major destinations, particularly the Mainland (+15.4%), South Korea (+11.6%), France (+8.7%), Japan (+6%) and Taiwan (+4.2%).

Concurrently, significant increases were registered in the values of domestic exports to many major destinations, particularly the Netherlands (+262.6%), Germany (+202.1%), the UK (+74.2%), Japan (+41.9%) and the US (+38%).

Increases were registered in the values of imports from most major suppliers, particularly Taiwan (+27.2%), Thailand (+24.4%), Germany (+19.7%), South Korea (+16.7%) and the Mainland (+14.7%).

The Census & Statistics Department said April's growth was mainly supported by the Mainland's continued robust trade flows and further expansion of intra-regional trade. 

Although the external environment remains largely positive, the trade outlook is clouded by various downside risks, such as high oil prices, rising US interest rates, global trade imbalances, and tightening measures on the Mainland. How these affect global demand is critical to Hong Kong's export performance in the period ahead.