Exports surge 33pc as world recovers

Finance | Eurus Yiu 27 Jul 2021

Hong Kong's trading activities grew faster in June as exports rose 33 percent and imports increased by 31.9 percent year on year.

Revealing the external merchandise trade statistics for June, the Census and Statistics Department said total exports of goods increased to HK$406.6 billion last month, after a year-on-year increase of 24 percent in May.

Imports of goods increased to HK$447.1 billion in June, after a year-on-year increase of 26.5 percent in May.

A visible trade deficit of HK$40.5 billion, equivalent to 9 percent of imports of goods, was recorded in June this year.

Comparing with last year's figure, total exports to Asia in June grew by 35.6 percent.

In this region, increases were registered in total exports to most major destinations, in particular Korea, Taiwan and the mainland, which increased in a range from 64.1 percent to 36.6 percent.

Over the same period, increases were registered in imports from most major suppliers, in particular India, Korea, Singapore, the United States and Taiwan, with the increase ranging from 68.3 percent to 41.8 percent. Imports from the mainland also increased by 32 percent.

However, a decrease was recorded in imports from Malaysia, by 6.4 percent.

A government spokesman said that the merchandise exports continued to grow strongly in June over a year earlier.

For the first half of 2021 combined, total merchandise trade value amounted to HK$4.75 trillion, surpassing the high in the same period in 2018 by 13 percent.

The government believes the improved external environment should continue to support Hong Kong's export performance in the near term.

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