Hong Kong's export value recorded double-digit growth for two consecutive months
China News Service, Hong Kong, June 25 (Xinhua) -- The Hong Kong Special Administrative Region Government Statistics Department announced on June 25 that Hong Kong's overall export value in May increased by 14.8% year-on-year, and import value increased by 9.6% year-on-year. This is the second consecutive month that Hong Kong has recorded a double-digit increase in export value.
Data showed that Hong Kong recorded a visible trade deficit of HK$12.1 billion in May, equivalent to 3.1% of the value of merchandise imports. The total value of merchandise exports in that month was HK$375.9 billion, while the value of imports was HK$388.1 billion.
In May, the value of Hong Kong's overall exports to Asia increased by 18.7%. Within this region, exports to most major destinations recorded increases, especially Malaysia and Vietnam, which increased by 50.2% and 31.5% year-on-year respectively; on the other hand, exports to India recorded a decrease. In addition, Hong Kong's exports to the United States increased by 26.6% year-on-year.
In the first five months of this year, Hong Kong's overall exports and imports increased by 12.5% and 7.4% year-on-year respectively. During the period, Hong Kong recorded a visible trade deficit of HK$105.2 billion, equivalent to 5.5% of the value of merchandise imports.
A spokesman for the SAR Government said that the value of merchandise exports continued to record double-digit year-on-year growth in May. Exports to the Mainland and the United States rose further, while exports to the European Union turned upward. Exports to many other major Asian markets also grew. Looking ahead, although geopolitical tensions will continue to bring uncertainty, Hong Kong's export performance should remain positive if external demand remains positive.
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