Hong Kong's August exports beat estimates, shipments to US climb

Overall exports in Hong Kong showed a better-than-expected growth in August, as the shipments to the United States swung to a rise despite the tariff war, data from the Census and Statistics Department showed.

Total exports in August continued to rise for the 18th consecutive month by 14.5 percent from a year earlier to HK$436.6 billion, following a 14.3 percent increase in July and surpassing market expectations of 13.9 percent.

Imports slowed the pace of growth, increasing 11.5 percent year-on-year to HK$462.0 billion, compared with the rise of 16.5 percent in July and the market estimate growth of 14.1 percent.

The city recorded a visible trade deficit of HK$25.4 billion in August, equivalent to 5.5 percent of merchandise imports.

Exports to the mainland and most other Asian markets continued to post solid growth, with exports to Malaysia growing 73.6 percent, Vietnam by 54.3 percent, the Philippines by 36.9 percent, Taiwan by 33.7 percent, Thailand by 28.9 percent, and mainland China by 8.2 percent.

Notably, exports to the US turned to increase, rising 17.3 percent over a year earlier, after recording a 7.6 percent decline in July.

In addition, exports to the Netherlands and the United Kingdom showed strong growth, increasing 65.7 percent and 55.8 percent, respectively.