 |
HK Sees Marked Rise in External Trade in May
Hong Kong's total exports and imports of goods further showed marked increases in May 2000, according to external merchandise trade figures released Tuesday by the Census and Statistics Department.
The value of total exports of goods, comprising re-exports and domestic exports, increased notably by 22.3 percent over a year earlier to HK$ 132.8 billion (US$ 17 billion).
Within this total, the value of re-exports rose by 23.7 percent to HK$ 117.3 billion (US$ 15 billion), and that of domestic exports by 12.8 percent to HK$ 15.6 billion (US$ 2 billion).
Concurrently, the value of imports of goods increased strongly, by 29.2 percent in May 2000 over a year earlier to HK$140.7 billion (US$18 billion).
A visible trade deficit of HK$ 7.9 billion (US$1 billion), equivalent to 5.6 percent of the value of imports of goods, was recorded in May 2000, larger than the deficit of HK$ 0.3 billion recorded in May 1999.
For the first five months of 2000 as a whole, the value of total exports of goods increased markedly by 19.5 percent over a year earlier, and that of goods imported rose by 23.1 percent.
A Government Secretariat spokesman noted that export performance remained highly robust in May 2000, with the value of total exports of goods recording double-digit growth for seven consecutive months.
While imports in the major markets remained strong thereby bolstering demand for Hong Kong's exports, the price competitiveness of Hong Kong's exports should have also improved along with the on-going cost and price adjustment in the local economy, the spokesman said.
In This Section
|