Hong Kong exports up 9.1% in Sept on recovering mainland market

HONG KONG (China Daily/ANN): The value of Hong Kong’s total exports of goods in September increased by 9.1 per cent from the same period of last year on the back of a recovering Chinese mainland economy, latest government data showed on Tuesday (Oct 28).

The Hong Kong government's Census and Statistics Department revealed that in September, the value of the city's total exports increased to HK$379.3 billion, while that of imports rose 3.4 per cent to HK$392 billion year-on-year.

Total exports to Asia as a whole grew by 11.2 per cent during the month, while that to the Chinese mainland jumped 17 per cent, data showed.

A trade deficit of HK$12.7 billion, or 3.2 per cent of the value of imports, was recorded for the period.

Comparing the third quarter this year with the preceding quarter on a seasonally adjusted basis, the value of exports rose 4.4 per cent while that of imports increased by 3.6 per cent.

In a press release, a spokesman for the Hong Kong government said that merchandise exports turned to a notable year-on-year increase in September, mainly led by the acceleration in exports to the mainland.

"Exports to the US reverted to moderate growth and those to the EU saw a much-narrowed decline in September, thanks to the economic recovery in these markets. Exports to other major Asian markets showed mixed performance," the spokesman said.

Looking ahead, the solid recovery of the mainland economy will likely render some support to Hong Kong's exports in the near term, the spokesman said.

"Yet, in some advanced markets, the resurgence of Covid-19 infections has cast uncertainty over their near-term outlook. The development of China-US relations, geopolitical tensions and the EU-UK trade negotiations also warrant attention," the spokesman added. - China Daily/Asia News Network

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