Shipping containers are seen stacked on top of each other at a cargo terminal in Hong Kong on July 18, 2020. (ISAAC LAWRENCE / AFP)
HONG KONG – The value of Hong Kong's total goods exports increased to HK$417billion in July, up 26.9 percent from the same period last year, the Hong Kong Special Administrative Region government said Thursday.
According to figures released by the Census and Statistics Department of the HKSAR government, the value of imports of goods increased 26.1 percent to HK$451.9 billion in July 2021 over July 2020.
A trade deficit of HK$35.0 billion, or 7.7 percent of the value of imports, was recorded in July
A trade deficit of HK$35.0 billion, or 7.7 percent of the value of imports, was recorded for the month.
Comparing the three-month period ending July with the preceding three months on a seasonally adjusted basis, the value of exports decreased 2.0 percent, while that of imports rose 2.5 percent.
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An HKSAR government spokesman said that the value of merchandise exports sustained its robust growth, helped by the continued revival of global demand. Exports to the mainland, the United States and the European Union all increased markedly while those going to many other Asian markets also saw visible expansions.
Looking ahead, the on-going global economic recovery should remain supportive to Hong Kong's export performance in the near term, the spokesman said.
Yet, the resurgence of the COVID-19 pandemic in many economies due to the spread of the Delta variant has heightened the uncertainty over the global economic outlook. The government will monitor the situation closely.
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