HK's Exports and Imports of Goods Reverted to Increase

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Last updated at: (Beijing Time) Saturday, April 27, 2002

HK's Exports and Imports of Goods Reverted to Increase

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The values of both Hong Kong's total exports and imports of goods reverted to increase in March 2002 when compared with a year earlier, according to the external merchandise trade figures released Friday by the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR).

In March 2002, the value of total exports of goods increased modestly, by 2.2 percent over a year earlier to 124.0 billion HK dollars. Within this total, the value of re-exports rose by 3.7 percent to 113.9 billion HK dollars in March, but the value of domestic exports fell by 11.4 percent to 10.1 billion HK dollars. Concurrently, the value of imports of goods increased slightly, by0.2 percent over a year earlier to 134.6 billion HK dollars in March 2002.

Statistics showed in the first quarter of 2002, the value of total exports of goods decreased by 6.2 percent over a year earlier. A visible trade deficit of 16.5 billion HK dollars, equivalent to 4.8 percent of the value of imports of goods, was recorded in the first quarter of 2002. This was significantly smaller than the corresponding deficit of 29.1 billion HK dollars, equivalent to 7.7 percent of the value of imports of goods, recorded in the same quarter in 2001.

Comparing the first quarter of 2002 with the fourth quarter of 2001 on a seasonally adjusted basis, the value of total exports ofgoods increased by 5.7 percent. Of this, the value of re-exports rose by 6.9 percent, whereas the value of domestic exports fell by4.1 percent. Over the same periods of comparison, the value of imports of goods was up by 3.1 percent.

A HKSAR Government Secretariat spokesman observed that in March2002, total exports of goods rebounded to positive growth, albeit only in modest magnitude, after an uninterrupted downtrend since March 2001. This improvement was underpinned in large part by the gradual revival in the global and regional economies over the past few months. The pick-up in exports was particularly visible for the East Asian markets, including Chinese mainland, Singapore and the Republic of Korea.

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