Hong Kong Exports

The pace of decline, however, has moderated.

Prices of exports were 4.5% higher, however.

The pace of decline, however, has moderated.

The weak external environment contributed to the decrease.

The slackened external environment contributed to the fall.

The value of exports declined to $401.6b in September 2022.

The city’s total export dropped by 8.9% YoY in July.

Export volume dropped by 12.5% YoY whilst imports decreased by 6.9% YoY.

The Census & Statistics Department said exports to the Mainland continued to fall.

The value of exports has fallen behind the value of imports.   The value of Hong Kong exports dropped by 1.4% to $388.1b in May, falling behind the value of imports which rose 1.3% to $424.8b, the Census & Statistics Department said.   Given the decline in export value, the trade deficit clocked at $36.7b or 8.6% of the value of imports.    According to the government, the value of exports declined in May as the “global economy faced increasing headwinds.” It added that exports to the Mainland also fell further in the same month.    Looking ahead, the government said the “worsened global economic prospects will continue to weigh on the city’s export performance.”   “The step-up in monetary policy tightening by many major central banks, the development of the Ukraine situation as well as the pandemic’s lingering threat also add uncertainties,” it added.

It grew 6.3 points to 30.9 points in the second quarter of 2022.

This translates to a total of $125.5b worth of exports.

Total exports of goods stood at $389b.

Export growth in 2022 will be affected by four factors.

Growth may be dragged by the spread of the Delta variant of COVID-19.

Its total imports also went up 25.6% in the same month.