Domestic clothing exports decline sharply by 43.1% at $2.6bn in June

17 Aug '05

3 min read

In June, 2005, the values of Hong Kong's total exports and imports of goods both showed distinct year-on-year increases. The Census and Statistics Department (C&SD) released today (July 26) the external merchandise trade statistics for June 2005.

In June, 2005, the value of total exports of goods (comprising re-exports and domestic exports) increased by 12.6% over a year earlier to $189.5 billion, after a year-on-year increase of 16.9% in May. Within this total, the value of re-exports increased by 14.1% to $179.4 billion in June, while the value of domestic exports decreased by 8.6% to $10.1 billion. Concurrently, the value of imports of goods increased by 10.5% over a year earlier to $196.5 billion in June, 2005, after a year-on-year increase of 16% in May. A visible trade deficit of $7.1 billion, equivalent to 3.6% of the value of imports of goods, was recorded in June, 2005.

For the first half of 2005 as a whole, the value of total exports of goods rose by 11.6% over the same period in 2004. Within this total, the value of re-exports increased by 12.8%, while the value of domestic exports decreased by 6.6%. Concurrently, the value of imports of goods increased by 9.1%. A visible trade deficit of $51.4 billion, equivalent to 4.7% of the value of imports of goods, was recorded in the first half of 2005.

Comparing the second quarter of 2005 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods roseby 7.0%. Within this total, the value of re-exports increased by 7.2%, while the value of domestic exports went up by 3.5%. Meanwhile, the value of imports of goods increased by 5.2%.

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