Hong Kong's Instrument Exports Increased by 17.3% YoY in January

The external merchandise trade statistics released today (February 24) by the Hong Kong Census and Statistics Department show that Hong Kong’s overall export and import values ​​recorded strong year-on-year growth in January 2011, up by 27.6% and 19.0% respectively.

After recording a year-on-year increase of 12.5% ​​in December 2010, the total value of total exports of goods re-exported to Hong Kong products in January 2011 was HK$283.7 billion, an increase of 27.6% from the same month in 2010. Among them, the value of re-exports in January was HK$277.6 billion, up by 28.1%, while the value of domestic exports was up by HK$6.1 billion, up by 9.1%. At the same time, following a year-on-year increase of 14.8% in December 2010, the value of imports of goods in January 2011 was HK$299.6 billion, an increase of 19.0% from the same month of the previous year. In January 2011, a visible trade deficit of HK$16 billion was recorded, equivalent to 5.3% of the value of imports of goods.

The seasonally adjusted figures showed that the value of total exports of goods recorded an increase of 4.7% as compared to the three months of January 2011 and the previous three months. The value of re-exports rose by 4.5%, while that of domestic exports increased by 14.1%. At the same time, the value of imports of goods also increased by 5.6%.

Comparing January 2011 with the same month of 2010, the value of all major export product categories recorded an increase, especially (office machines and automatic data processing equipment) (by HK$12.9 billion, up 57.9%), (communications, recordings) And audio equipment and equipment (an increase of 11.8 billion Hong Kong dollars, up 31.8%) and (electric machinery, equipment and appliances and parts) (an increase of 10.9 billion Hong Kong dollars, up 17.3%).

Over the same period, an increase was also recorded in the value of all major categories of imported goods, in particular (communications, sound recordings and audio equipment and equipment) (by 10.2 billion Hong Kong dollars, up 32.2%), (electrical machinery, apparatus and appliances and parts) (increased (HK$8.5 billion, up 11.9%) and (office machines and automatic data processing equipment) (by HK$7.6 billion, up 33.1%).

Comparing the three months ended January 2011 with the same period in 2010, the value of all major global export product categories recorded an increase, especially (office machines and automatic data processing equipment) (an increase of HK$26.7 billion, or a rise of 38.5%. ), (communications, recording and audio equipment and equipment) (by HK$22.6 billion, up 18.6%) and (electrical machinery, apparatus and appliances and parts) (by HK$17.8 billion, up 9.6%).

Over the same period, the value of all major importable goods categories recorded an increase, especially (communications, recording and audio equipment and equipment) (by HK$22.8 billion, up 21.4%), (electrical machinery, apparatus and equipment and parts) (increase) (18.8 billion Hong Kong dollars, up 8.9%) and (office machines and automatic data processing equipment) (an increase of 18.5 billion Hong Kong dollars, up 26.5%).

Commentary A government spokesman said that with the booming demand in Asia and other emerging markets and the further recovery of the European and American markets, merchandise exports rose significantly in January 2011. This year's Lunar New Year in early February this year, some of the goods shipped to the end of January, may also be related to this. Therefore, it is necessary to analyze the trade figures in January and February in order to more clearly reflect the actual trend.

The spokesman further pointed out that the booming Asian market is expected to continue to provide strong support for Hong Kong’s foreign trade in the future. However, we must remain vigilant about the uncertainties of the external environment, including the fragile fundamentals of advanced economies and the recent geopolitical tensions in the Middle East.