H. Kong’s total exports up in August ’24

Hong Kong’s external merchandise trade continued its upward trajectory in August 2024, with both exports and imports registering robust growth, as the value of total exports of goods increased 6.4 per cent year-over-year to $381.3 billion.

This followed a 13.1 per cent increase in July. Similarly, imports of goods rose by 7.9 per cent to $414.4 billion, compared to a 9.9 per cent increase in the previous month, according to the Census and Statistics Department (C&SD) on Thursday.

Despite the strong growth in both exports and imports, Hong Kong recorded a visible trade deficit of $33.1 billion in August, equivalent to eight per cent of the value of imports, the report added.

In the first eight months of 2024, total exports of goods increased by 11.5 per cent compared to the same period in 2023, while imports of goods rose by eight per cent.

A trade deficit of $216.0 billion, representing 6.8 per cent of the value of imports, was observed during this period.

On a seasonally adjusted basis, the value of total exports of goods increased by 0.3 per cent in the three-month period ending August 2024 compared to the preceding three months. Imports grew by 3.8 per cent during the same period.

Attribution: Census and Statistics Department statement

Subediting: M. S. Salama