HK exports value drops 3.7% to HK$319.6bn in October

    Hong Kong's value of total exports of goods (comprising re-exports and domestic exports) dropped 3.7% over a year earlier to HK$319.6 billion in October, after a year-on-year decrease of 4.6% in September, according to the Census and Statistics Department.
  Within this total, the value of re-exports fell 3.5% to HK$316 billion in October, while the value of domestic exports declined 18.2% to HK$3.6 billion. Concurrently, the value of imports of goods decreased by 8.5% over a year earlier to HK $349.2 billion in October, after a year-on-year decrease of 7.6% in September. A visible trade deficit of HK$29.6 billion, equivalent to 8.5% of the value of imports of goods, was recorded last month.
  For the first 10 months of 2015 as a whole, the value of total exports of goods dropped 1.7% over the same period in 2014. Within this total, the value of re-exports fell 1.5%, while the value of domestic exports decreased 15.2%. Concurrently, the value of imports of goods declined 3.6%. A visible trade deficit of HK$361.6 billion, equivalent to 10.8% of the value of imports of goods, was recorded in the first 10 months of 2015.
  A Government spokesman noted that merchandise export performance remained weak in October, reflecting the slack in global demand. Exports to most of the major markets continued to decline. The spokesman commented further that looking ahead, the slow global economic growth will continue to constrain Hong Kong's export performance in the near term. Moreover, the external environment is still overcast by headwinds stemming from the impending US interest rate hike and heightened geopolitical tensions in various regions.