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August saw the value of total exports of goods rise to $243.2 billion, up 7.5% on the same month last year. The figure comes after a year-on-year rise of 8.6% in July.
Within this total the value of re-exports grew 9.5% to $233.5 billion while the value of domestic exports fell 25.3% to $9.7 billion.
The value of imports of goods rose 9% over a year earlier to $256.8 billion. A visible trade deficit of $13.7 billion, equivalent to 5.3% of the value of imports of goods, was recorded.
For the first eight months the value of total exports of goods rose 9.8%. Within this total the value of re-exports grew 12% while the value of domestic exports fell 25.7%. The value of imports of goods rose 10.5%. A visible trade deficit of $115.8 billion, equivalent to 6.3% of the value of imports of goods, was recorded.
The Census & Statistics Department said the external trading environment, while still largely supportive, is subject to increasing uncertainty.
The direction of the US economy, with its housing market correction and sub-prime mortgage turbulence, will be the key source of uncertainty. Also relevant to Hong Kong's export performance will be the effects of the Mainland's cut in export tax rebate and tightening measures on processing trade, as well as exchange rate movements.
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