The value of total services exports in 2008 rose 8.6% on the previous year to $717.2 billion, and that of total services imports grew 10.3% to $366.5 billion, the Census & Statistics Department announced today.

An invisible trade surplus of $350.8 billion, equivalent to 95.7% of the value of total services imports, was recorded - up on the corresponding surplus of $328.5 billion, equivalent to 98.9% of the value of total services imports in 2007.

Transportation services and merchanting, and other trade-related services were the two largest groups, accounting for 31.4% and 30.1% of the value of total services exports. They were followed by travel (16.6%), financial (12.8%) and insurance services (0.6%), while other services had a total share of 8.5%.

Travel services accounted for 34.2% of the value of total services imports, followed by transportation (33.6%), merchanting and other trade-related services (7.3%), financial services (6.7%) and insurance services (1.5%). Other services had a total share of 16.6%.

The net exports of merchanting and other trade-related services contributed most significantly to the overall invisible trade surplus, at $189.1 billion. It was followed by transportation services ($101.7 billion) and financial services ($67.6 billion).

The Mainland and the US were Hong Kong's major destinations of services exports, accounting for 25% and 21.4% of the value of total services exports. The two markets were also the city's major sources of services imports, accounting for 25.6% and 14.8% of the value of total services imports.