Hong Kong's trade edges up in January

Gordon Yang

Hong Kong's exports by value increased by 0.1 percent year-on-year in January, partly due to differences in timing brought about by the Lunar New Year holidays.

Imports rose by 0.5 percent during the same period.

January's exports and imports rose to HK$389.1 billion and HK$387.1 billion respectively, resulting in a trade surplus of around HK$2 billion, equivalent to 0.5 percent of import value, according to the Census and Statistics Department.

Within Asia, exports to Vietnam, Singapore and Japan rose, with exports to Vietnam and Singapore surging by 73.9 percent and 41.6 percent year-on-year, respectively. But exports to India dropped by 22.3 percent, and those bound for Malaysia fell by around 17.7 percent, the department said.

Beyond Asia, other major destinations also saw exports decrease, particularly in the Netherlands, which went down by 31.8 percent. On the other hand, exports to the United States rose 14.8 percent.

A government spokesman noted a moderate export increase in January was driven partly by the Lunar New Year's timing, and that January-February data would offer more precise insights.