Merchandise exports grew strongly in April, with the total goods exports value up 14.5% on a year earlier, to $243.4 billion, the Census & Statistics Department says. The value of goods imports also rose, 11.3% to $259.6 billion.

The value of re-exports rose 15.5%, to $235.6 billion, while the value of domestic exports dropped 10%, to $7.8 billion. A visible trade deficit of $16.2 billion, equivalent to 6.2% of the value of imports of goods, was recorded.

For the first four months, the total goods exports value rose 11.5% over the same period last year. The value of goods imports also grew 11.5%.

Uncertain outlook

The department said the Mainland market resumed its role as the main growth driver after a sluggish performance in March. The continued vibrant intra-regional trade in Asia also contributed in a significant way.

These together with the notable expansion of the EU market more than offset the continued weakness of the US and Japan markets.

The outlook for trade remains uncertain and challenging amid the slower growth in the major advanced economies and the ongoing global financial turbulence. The effects of the macro-tightening measures in the Mainland also need close watch.