October total exports and imports soar

Yet compared with the three-month period ending October with the preceding three months the value of total goods exports dropped 0.9%.

The values of Hong Kong's total goods exports and imports both recorded year-on-year increases in October, at 11.5% and 10.9%, the Census & Statistics Department said Thursday.

The value of total goods exports, comprising re-exports and domestic exports, rose 11.5% over a year earlier to $305.7 billion, after a year-on-year decrease of 3% in September. Within this total, the value of re-exports increased 12% to $300.4 billion in October, whereas the value of domestic exports fell 12.5% to $5.3 billion.

The value of goods imports rose 10.9% over a year earlier to $328.8 billion, after a year-on-year increase of 2.3% in September. A visible trade deficit of $23.1 billion, equivalent to 7% of the value of imports of goods, was recorded.

For the first 10 months of the year, the value of total exports of goods rose 11.3% over the same period in 2010. Within this total, the value of re-exports increased 11.6%, while the value of domestic exports decreased 1.7%.

As the value of goods imports increased 12.6%, a visible trade deficit of $334.4 billion, equivalent to 10.7% of the value of goods imports, was recorded in the first 10 months.

Comparing the three-month period ending October with the preceding three months on a seasonally adjusted basis, the value of total goods exports fell 0.9%. Within this total, the value of re-exports decreased 0.8%, whereas the value of domestic exports went down 8.1%. The value of goods imports fell 0.7%.