Hong Kong's foreign trade rises in June

04 Aug '11

2 min read

Hong Kong's foreign trade has risen in the month of June, the Hong Kong Department of Census and Statistics has announced.

During the month, Hong Kong's total exports increased to 292.2 billion Yuan, showing a year-on-year rise of 9.2 percent. The majority of exports were re-exports which grew by 9.6 percent to 286.7 billion Yuan. Domestic exports, however, fell to 5.6 billion Yuan, a decrease of 5.8 percent.

The total value of imports during the month stood at 332.5 billion Yuan, which is an increase of 11.5 percent year-on-year. Thus, the Special Administrative Region (SAR) registered a trade deficit of 40.3 billion Yuan during June 2011, which equals 12.1 percent of the value of goods imported.

In the first six months of the current year, value of the total goods exported by Hong Kong registered a year-on-year increase of 15.4 percent. While re-exports grew 15.6 percent, exports of locally produced goods rose 6.2 percent.

The value of goods imported by Hong Kong grew 15 percent compared to the corresponding period of last year. The SAR recorded a deficit of 200.4 billion Yuan during January-June period, which equals 11 percent of the value of imports.

In the second quarter of 2011, the value of total exports declined 9.4 percent year-on-year, after making seasonal adjustment. While the value of re-exports decreased 9.4 percent, the value of exports of domestically manufactured goods also fell 10.4 percent. The value of imports also fell 4.2 percent during the same period.

Fibre2fashion News Desk - India