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Hong Kong's foreign trade regained growth in September, the value of exports rose 9.1% year-on-year

2020-10-27T09:20:58.814Z

The government announced foreign trade data for September. The value of overall exports and imports rose 9.1% and 3.4% respectively. However, in the first nine months of this year, the value of Hong Kong’s total exports of goods fell 4% year-on-year, while the value of imports fell by 6.8%. The government pointed out that the



Financial News

Written by: Zhang Weilun

2020-10-27 17:08

Last update date: 2020-10-27 17:08

The government announced foreign trade data for September. The value of overall exports and imports rose 9.1% and 3.4% respectively.

However, in the first nine months of this year, the value of Hong Kong’s total exports of goods fell 4% year-on-year, while the value of imports fell by 6.8%.

The government pointed out that after seasonal adjustment, the value of overall merchandise exports and imports in the third quarter of this year increased by 4.4% and 3.6% respectively.

The government pointed out that the value of total exports to Asia rose by 11.2% in September, of which the value of exports to the Mainland increased by 17%, while exports to Taiwan, Vietnam and South Korea rose by 10.4%, 6.9% and 5.2% respectively.

However, the value of products exported to India, Thailand and Japan fell 16.2%, 15.5% and 14.4% respectively.

In terms of imports, the value of products from Taiwan rose by 37.8% year-on-year in September, while the value of products from Malaysia, Singapore and South Korea rose by 20%, 17.1% and 15.1% respectively.

However, the value of products from the United States and Japan fell 21.6% and 7.4% respectively.

Value of goods exported to the Mainland increased by 17% year-on-year

A government spokesman said that the significant year-on-year rebound in commodity exports in September was mainly driven by the marked acceleration of exports to the Mainland.

Exports to the United States returned to moderate growth in September, while the decline in exports from the European Union narrowed sharply, reflecting the economic recovery of the two places.

Exports to other major Asian markets showed mixed performance.

Looking ahead, the mainland economy is recovering steadily and it is expected to provide some support to Hong Kong's exports in the short term.

However, the epidemic in some advanced markets has worsened again, bringing uncertainty to the local short-term economic prospects.

The development of Sino-US relations, geopolitical tensions, and EU-UK trade negotiations are also worthy of attention.

The government will closely monitor relevant developments.

Import and export data Hong Kong economy

Source: hk1

All news articles on 2020-10-27

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