The Census and Statistics Department (C&SD) released the external merchandise trade statistics for August 2007. In August 2007, the values of Hong Kong's total exports and imports of goods recorded year-on-year increases of 7.5% and 9.0% respectively.
In August 2007, the value of total exports of goods (comprising re-exports and domestic exports) increased by 7.5% over a year earlier to $243.2 billion, after a year-on-year increase of 8.6% in July 2007. Within this total, the value of re-exports increased by 9.5% to $233.5 billion in August 2007, whereas the value of domestic exports decreased by 25.3% to $9.7 billion.
Concurrently, the value of imports of goods increased by 9.0% over a year earlier to $256.8 billion in August 2007, after a year-on-year increase of 9.8% in July 2007. A visible trade deficit of $13.7 billion, equivalent to 5.3% of the value of imports of goods, was recorded in August 2007.
For the first eight months of 2007 as a whole, the value of total exports of goods rose by 9.8% over the same period in 2006. Within this total, the value of re-exports increased by 12.0%, whereas the value of domestic exports decreased by 25.7%. Concurrently, the value of imports of goods increased by 10.5%. A visible trade deficit of $115.8 billion, equivalent to 6.3% of the value of imports of goods, was recorded in the first eight months of 2007 as a whole.
Comparing the three-month period ending August 2007 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods rose by 3.0%. Within this total, the value of re-exports increased by 3.5%, whereas the value of domestic exports went down by 7.6%. Meanwhile, the value of imports of goods increased by 2.4%.
Analysis by country/territory:
Comparing August 2007 with August 2006, increases were registered in the values of total exports to some major destinations, in particular the mainland of China (the Mainland) (+11.7%) and the Netherlands (+5.9%). Concurrently, decreases were registered in the values of total exports to some major destinations, in particular the United Kingdom (-8.8%), Japan (-7.0%) and Taiwan (-4.9%).
Over the same period of comparison, significant increases were registered in the values of imports from most major suppliers, in particular India (+64.9%), Thailand (+24.0%), Singapore (+11.7%), the Mainland (+9.2%) and the United States of America (+8.3%).
For the first eight months of 2007 as a whole, year-on-year increases were registered in the values of total exports to most major destinations, in particular the Mainland (+14.0%), the Netherlands (+8.8%), France (+8.0%), Germany (+6.3%) and Taiwan (+5.1%).
Over the same period of comparison, year-on-year increases were registered in the values of imports from all major suppliers, in particular India (+29.9%), Singapore (+18.8%), the Mainland (+12.5%), the United States of America (+11.2%) and Thailand (+9.8%).
