Nov exports value up 7.4%

The value of Hong Kong’s total exports increased to $386.6 billion in November, up 7.4% on the same month last year, the Census & Statistics Department announced today.

The value of goods imports increased 7.1% to $414.6 billion for the same period.

A trade deficit of $27.9 billion, or 6.7% of the value of imports, was recorded for November.

Comparing the three-month period ending November with the preceding three months on a seasonally adjusted basis, the value of goods exported rose 5.1%, while that of goods imported increased 5.5%.

The Government noted that the value of merchandise exports recorded a year-on-year increase due to a low comparison base. Exports to the Mainland rose, those to the US grew modestly, while those to the European Union fell visibly. Exports to other major Asian markets saw a mixed performance.

Looking ahead, it added that the challenging external environment will continue to weigh on Hong Kong’s export performance in the near term.