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Hong Kong exports, imports continue to surge in April

People gather to watch the sunset as they stand on a viewing platform in Tamar Park overlooking Victoria Harbour and the Kowloon skyline in Hong Kong on May 5, 2020. (ANTHONY WALLACE / AFP)

Hong Kong’s merchandise exports continue to strengthen, with major export markets showing signs of visible recovery.

Exports grew to US$49.59b in April, after a year-on-year increase of 26.4% in March

The value of Hong Kong's total goods exports and goods imports swelled 24.4 percent and 25.2 percent respectively in April from a year ago, the Census and Statistics Department said on Thursday.

Exports grew to HK$384.9 billion (US$49.59 billion) in April, after a year-on-year increase of 26.4 percent in March. In the same period, imports jumped HK$416.7 billion, after a year-on-year increase of 21.7 percent in the previous month. A trade deficit of HK$31.8 billion, equivalent to 7.6 percent of the value of imports of goods, was recorded in April.

From January to April, the value of total exports of goods increased 30.8 percent on a yearly basis, while the value of total imports of goods jumped 25.5 percent annually in the same period. A trade deficit of US$99.1 billion, equivalent to 6.2 percent of the value of imports of goods, was recorded in the first four months of 2021.

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In the first four months of this year, the value of total merchandise trade was far higher than the previous high recorded in the same period in 2018, reflecting vibrant trade activity amid a sharp rebound in external demand.

“Looking ahead, the sustained revival of the global economy should continue to render support to Hong Kong's export performance in the near term. Yet the evolving pandemic situation, along with other risk factors such as China-US relations and geopolitical tensions, still warrant attention,” a government spokesman said.