Export Data News
- Hong Kong merchandise exports grow 7.5 percent in August
Date: 28-Sep-2007 Sources: (People's Daily)
Hong Kong's merchandise exports in August totaled 243.2 billion HK dollars (31.18 billion U.S. dollars), representing a year-on-year growth of 7.5 percent, according to statistics released Thursday by the Census and Statistics Department.
The value of the special administrative region's total imports of goods in August was 256.8 billion HK dollars (32.92 billion U.S. dollars), up 9 percent from a year earlier, leading to a visible trade deficit of 13.7 billion HK dollars (1.76 billion U.S. dollars).
The growth in merchandise exports, following growth in the previous month, was mainly attributed to the mainland's vibrant trade flows and rapid growth in many emerging markets, a government spokesman was quoted as saying in a release.
The spokesman said he believed external trading environment, while still largely supportive, was subject to increasing uncertainty, including the direction of the U.S. economy in face of its housing market correction and sub-prime mortgage turbulence.
The effects of the mainland's cut in export tax rebate and tightening measures on processing trade, as well as exchange rate movements, were also potentially unfavorable. (7.8 HK dollars = 1 U.S. dollar)
Sponsor Results:
