DEC EXPORTS VALUE DOWN 28.9%

The value of Hong Kong's exports fell to $348.1 billion in December, down 28.9% compared with the same month in 2021, the Census & Statistics Department announced today.

The value of imports dropped 23.5% to $399.7 billion for the same period.

A visible trade deficit of $51.6 billion, or 12.9% of the value of imports, was recorded for the month.

      

For 2022 as a whole, the value of total goods exports dropped 8.6% over 2021, and that of imports decreased 7.2%.

A visible trade deficit of $395.8 billion, or 8% of the value of imports, was recorded in 2022.

      

Comparing the fourth quarter of 2022 with the preceding quarter on a seasonally adjusted basis, the value of total exports decreased 7% while that of imports dropped 6.5%.

Total exports to Asia as a whole dropped 29.2% in December when compared with the same month last year. Decreases were also registered in exports to major destinations in other regions, in particular Germany, the UK and US for the same period of comparison.

      

The Government said the year-on-year fall in the value of merchandise exports widened further, reflecting the significant drags from the deteriorating external environment and disruptions to cross-boundary land transportation.

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