Hong Kong’s exports, imports increase in 2013

HONG KONG, Jan 28 (Xinhua): Hong Kong's Census and Statistics Department (CSD) released the external merchandise trade statistics Monday, according to which the value of total exports of goods rose by 3.6 per cent in 2013 over 2012, and the value of imports of goods increased by 3.8 per cent.
In a breakdown, the value of re-exports increased by 3.8 per cent, whereas the value of domestic exports decreased by 7.6 per cent. A visible trade deficit of 501 billion HK dollars (US$64.56 billion), equivalent to 12.3 per cent of the value of imports of goods, was recorded in 2013.
In December alone, the value of total exports of goods remained virtually unchanged from a year earlier at 310.9 billion HK dollars, after a year-on-year increase of 5.8 per cent in November. Of the total, re-exports accounted for 306.3 billion HK dollars, up by 0.1 per cent, whereas domestic exports decreased by 7.9 per cent to 4.6 billion HK dollars.
Meanwhile, the value of imports of goods increased by 1.8 per cent over a year earlier to 365.2 billion HK dollars, after a year-on-year increase of 5.2 per cent in November. A visible trade deficit of 54.4 billion, equivalent to 14.9 per cent of the value of imports of goods, was recorded in the month.
Last year, year-on-year increase was seen in the value of exports to some major destinations, with that to Vietnam rising 15. 5 per cent, that to Korea, up 9.0 per cent, that to India, up 7.9 per cent, and that to the Chinese mainland, up 4.9 per cent.
However, the value of exports to Japan decreased by 6.1 per cent, that to Germany fell 5.1 per cent, and that to Taiwan dropped 4.3 per cent.
Compared to 2012, the value of imports from the United States went up by 7.4 per cent last year, that from China's Taiwan rose 6. 9 per cent, that from India increased 6.7 per cent, that from Thailand expanded by 6.4 per cent, and that from the Chinese mainland inched up by 5.5 per cent.
On the other hand, the value of imports from Japan reduced by 8. 1 per cent, and that from Switzerland contracted by 1.7 per cent.
A spokesman for the Hong Kong government said that the trading environment is still facing various uncertainties, particularly the future path of the US Federal Reserve's monetary policy and its possible impacts on the emerging market economies, in addition to the uneven recovery of the eurozone economy. He added the government will monitor the situation closely.