The value of Hong Kong's total exports and imports in August fell 13.9 percent and 9.8 percent over the same period last year, the special administrative region's Census and Statistics Department said Thursday.
The value of total exports fell 13.9 percent to 213.3 billion HK dollars, after a year-on-year drop of 19.9 percent in July, with the value of re-exports down 13.2 percent to 208.3 billion HK dollars and the value of domestic exports declining 37.3 percent to 5 billion HK dollars. The value of imports dropped 9.8 percent over a year earlier to 235.1 billion HK dollars.
A visible trade deficit of 21.8 billion HK dollars, equivalent to 9.3 percent of the value of imports, was recorded.
The year-on-year fall in merchandise exports in August, though narrowing from that in July, was still at a double-digit rate, the department said.
The export outlook remains highly uncertain in the near term, hinging crucially on when the weak import demand in the advanced economies can turn around.
In the first eight months of this year the value of total exports dropped 17.2 percent over the same period last year, with the value of re-exports falling 16.3 percent and the value of domestic exports dropping 41.5 percent. The value of imports fell 17.4 percent.
A visible trade deficit of 121.2 billion HK dollars, equivalent to 7.3 percent of the value of imports, was recorded in the period. (7.8 HK dollars = 1 U.S. dollar)