August Exports Value Up 25.9%

The value of Hong Kong’s total goods exports increased to $433.7 billion in August, up 25.9% on the same month last year, the Census & Statistics Department announced today.

The value of imports of goods jumped 28.1% to $460 billion for the same period.

A trade deficit of $26.3 billion, or 5.7% of the value of imports, was recorded for the month.

Comparing the three-month period ending August with the preceding three months on a seasonally adjusted basis, the value of exports increased 3.3%, while that of imports rose 3.7%.

The Government said the value of merchandise exports sustained notable year-on-year growth in August.

Exports to the Mainland, the US, the EU and many other Asian economies showed visible increases.

The total merchandise trade value amounted to $6.5099 trillion for the first eight months of the year, surpassing the high in the same period in 2018 by 12.8%, it added.

Looking ahead, the global economic recovery and vibrant regional trade flows should continue to support Hong Kong’s export performance in the near term.

However, the uncertainties on the economic outlook cast by the COVID-19 pandemic development, China-US relations and heightened geopolitical tensions also warrant attention, the Government noted.