Hong Kong exports value fall 4.6% to HK$291.8b in May

HONG KONG: Hong Kong’s total exports’ value in May decreased 4.6 percent while the value of imports dropped 4. 7 percent year-on-year, Hong Kong’s statistics department said here the other day.

The value of total goods exports decreased to 291.8 billion HK dollars (about 37.5 U.S dollars) from a year earlier, after a year- on-year increase of 2.2 percent in April.

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Within this total, the value of re-exports decreased 4.4 percent to 287.6 billion HK dollars, while domestic exports fell 19.6 percent to 4.3 billion HK dollars.

The value of goods imports lost 4.7 percent to 331.9 billion HK dollars, after a year-on-year decrease of 2.9 percent in April.

A visible trade deficit of 40.1 billion HK dollars, equivalent to 12.1 percent of the value of goods imports, was recorded in May.

A government spokesman said looking ahead, Hong Kong’s export performance is likely to remain constrained by the slow global economic recovery.