Modest export increase in 2012

The value of Hong Kong's total goods exports rose 2.9% last year over 2011.

The Census &Statistics Department, however, said the city registered an overall trade deficit of HK$477.8 billion on higher exports. The deficit was equivalent to 12.2% of the value of imports.

Re-exports’ value increased 3.2% while that of domestic exports decreased 10.4%. The value of goods imports rose 3. 9%. In December, the value of total goods exports increased 14.4% year-on-year.

A government spokesman said that merchandise exports picked up to see strong year-on-year growth in December, after rebounding significantly in November. The faster export growth towards year-end was seen across many major markets.

The re-acceleration of the mainland economy should become a stabilizing force to cushion against the relatively weak final demand of the advanced economies.