HK Sees Strong Goods Trade Growth in January

Hong Kong's goods exports rose 27.6 percent year-on-year in January to 283.7 billion HK dollars (about 36.4 billion U.S. dollars) while the imports increased 19 percent over a year earlier to 299.6 billion HK dollars, the authority said Thursday.

According to Hong Kong's Census and Statistics Department, the value of re-exports grew 28.1 percent to 277.6 billion HK dollars in January, while the value of domestic exports rose 9.1 percent to 6.1 billion HK dollars.

A visible trade deficit of 16 billion HK dollars, equivalent to 5.3 percent of the value of goods imports, was recorded in the month.

Moreover, comparing the three-month period ending January with the preceding three months on a seasonally adjusted basis, the value of total goods exports rose 4.7 percent while the value of goods imports increased 5.6 percent.

The value of re-exports grew 4.5 percent while the value of domestic exports went up 14.1 percent. (1 U.S. dollar equals about 7.8 HK dollars.)