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Hong Kong’s external trade logs robust growth in October

This photo shows a general view of a Hong Kong container port at the Kwai Chung Customhouse Cargo Examination Compound in Hong Kong, Sept 5, 2018. (ISAAC LAWRENCE / AFP)

HONG KONG – Hong Kong's goods exports and imports continued to register significant growth in October alongside the global economic recovery, official data showed Thursday.

The values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 21.4 percent and 17.7 percent, respectively, according to the Census and Statistics Department of the Hong Kong Special Administrative Region government.

The values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 21.4 percent and 17.7 percent, respectively, according to the Census and Statistics Department of the Hong Kong Special Administrative Region government

The value of total exports of goods increased to HK$418.3 billion (about $53.7 billion) in October, after a year-on-year increase of 16.5 percent in September, while the value of imports of goods reached HK$448.7 billion.

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In October, exports to the Chinese mainland, the United States and the European Union all grew visibly, and those to other major Asian markets showed increases of varying degrees, said a spokesperson for the HKSAR government.

For the first 10 months of 2021 as a whole, the value of total exports of goods increased by 26.7 percent over the same period in 2020. Concurrently, the value of imports of goods increased by 25.5 percent, the data showed.

A visible trade deficit of HK$301.7 billion, equivalent to 7.0 percent of the value of imports of goods, was recorded in the first 10 months of 2021.

"Looking ahead, the further revival of external demand should continue to support Hong Kong's export performance in the near term. Yet, the deteriorating pandemic situation and supply bottlenecks in many places may pose a drag on global economic growth," said the spokesperson.

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