Travel tops trade in declining services exports

Local | 9 Feb 2018 6:26 pm

Hong Kong's services exports fell by 5.5 percent to HK$764.8 billion in 2016, while imports increased by 0.7 percent to HK$578.1 billion, the Census and Statistics Department reported.

The trade surplus narrowed to HK$186.7 billion, from HK$234.6 billion in 2015.

Travel made up the biggest component in exports of services, accounting for 33.3 percent of the value, followed by transport (28.6 percent), financial services (18.1 percent) and other business services (14 percent).

In imports, too, travel accounted for 32.4 percent of the value, followed by transport (22.7 percent), other business services (15.5 percent) and manufacturing services (15.3 percent).

Exports of financial services contributed most significantly to the overall invisible trade surplus, at HK$101.9 billion in 2016. This was followed by transport (HK$87.3 billion) and travel (HK$67.6 billion), the department said.

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