Hong Kong

Re-exports also increased 4% to $299.4b. The value of Hong Kong's total goods exports rose 4% year-on-year in May, while that of goods imports increased 6.6%, the Census & Statistics Department said. The value of goods exports totalled $303.1 billion. Within this total, the value of re-exports increased 4% to $299.4 billion, while the value of domestic exports rose 4.6% to $3.7 billion. The value of goods imports increased 6.6% to $338.8 billion. A visible trade deficit of $35.6 billion, equivalent to 10.5% of the value of goods imports, was recorded. Comparing the three months ending May with the preceding three-month period on a seasonally adjusted basis, the value of total goods exports increased 0.7%. Within this total, the value of re-exports increased 0.7%, while that of domestic exports grew 0.1%. The value of goods imports decreased 2.5%. Noting merchandise exports registered moderate year-on-year growth, the department said exports to major Asian markets continued to provide the main impetus to overall growth that reflected the sustained expansion of regional trading and production activities. Looking ahead, it said the improving global economic situation should continue to be conducive to Asia's and Hong Kong's export performance while the external trading landscape is still overcast by uncertainties arising from the pace of US monetary policy normalisation, Brexit as well as other policy and political developments in the US and Europe.