HK's export up 11.2 pct in March

The values of Hong Kong's total exports and imports of goods recorded year-on-year increases at 11.2 percent and 11.3 percent respectively this March, the city's Census and Statistics Department announced Thursday.

In March 2013, the value of total exports of goods (comprising re-exports and domestic exports) increased by 11.2 percent over a year earlier to 291.7 billion HK dollars (about 37.6 billion U.S. dollars), after a year-on-year decrease of 16.9 percent in February 2013.

Concurrently, the value of imports of goods increased by 11.3 percent over a year earlier to 340.9 billion HK dollars in March 2013, after a year-on-year decrease of 18.3 percent in February 2013.

A visible trade deficit of 49.1 billion HK dollars, equivalent to 14.4 percent of the value of imports of goods, was recorded in March 2013.

Comparing March 2013 with March 2012, total exports to Asia as a whole grew by 15.8 percent. In this region, double-digit increases were registered in the values of total exports to most major destinations, in particular Thailand, Taiwan, Korea, Vietnam and the Chinese mainland.

A spokesman for the government commented that looking ahead, the external trading environment is likely to remain rather unsteady, with the prevailing weak final demand in the advanced economies still weighing on regional export activities.

In addition, the effect of the labor dispute at the container terminal on trade flows, if any, has yet to be reflected in trade statistics, as the dispute started in late March.

As such, Hong Kong's export performance might see some fluctuations in the period ahead. We will monitor the developments closely, the spokesman said. (1 U.S. dollar = 7.76 HK dollars)