Source: Xinhuanet
06-27-2007 10:47
Special Report: HK 10 YearsHong Kong's exports of goods rose to 216.6 billion HK dollars in May, up 12.1 percent on the same month last year, with its exports to China's mainland being the major driver, revealed the Census and Statistics Department Tuesday.
The export growth in May has slowed down compared with a year- on-year rise of 12.6 percent in April.
Within the total exports, the value of re-exports grew 14.1 percent to 207.3 billion HK dollars, whereas the value of domestic exports fell 19.9 percent to 9.2 billion HK dollars, according to the department.
Concurrently, the value of imports rose 11.1 percent over a year earlier to 230.9 billion HK dollars, after a year-on-year increase of 14.7 percent in April.
A visible trade deficit of 75.1 billion HK dollars, equivalent to 6.9 percent of the value of imports, was recorded in Hong Kong in the first five months of the year.
The department said merchandise exports remained robust and attained another month of broad-based growth in May with Hong Kong 's exports to China's mainland market remaining the growth driver.
Hong Kong's exports to many other East Asian economies also grew distinctly along with the recovery of the exports to Japan and the European markets, offsetting the slack in the United States.
The department said the near-term export outlook for Hong Kong is still rather positive, as the external environment remained sanguine under a thriving economy on the Chinese mainland and continued expansion in Japan and Europe.
While the general weakness of the U.S. dollar, particularly against the Asian currencies, is expected to render support to Hong Kong's export performance, the department said, yet possible sharper-than-expected slow-down of the U.S. economy, and further macro tightening measures in China's mainland, are areas to watch out which may potentially dampen the export growth momentum in the months ahead. (1 U.S. dollars = 7.8 HK dollars)
Editor:Li Yang
