HK exports value up 0.8% to HK$309.7bn in August

    Hong Kong's value of total exports of goods (comprising re-exports and domestic exports) increased by 0.8% over a year earlier to HK$309.7 billion in August, after a year-on-year decrease of 5.1% in July, according to the Census and Statistics Department.
  Within this total, the value of re-exports rose 0.8% to HK$305.7 billion in August, whereas the value of domestic exports dropped 3.4% to HK$4 billion. Concurrently, the value of imports of goods increased by 2.8% over a year earlier to HK$341.8 billion in August, after a year-on-year decrease of 3.3% in July. A visible trade deficit of HK$32.1 billion, equivalent to 9.4% of the value of imports of goods, was recorded in August.
  For the first eight months of 2016 as a whole, the value of total exports of goods dropped 3.4% over the same period in 2015. Within this total, the value of re-exports decreased 3.3%, while the value of domestic exports fell 13%. Concurrently, the value of imports of goods decreased by 4.2%. A visible trade deficit of HK$264.8 billion, equivalent to 10.5% of the value of imports of goods, was recorded in the first eight months of 2016.
  A Government spokesman noted that the value of merchandise exports reverted to a slight year-on-year increase in August. While exports to major advanced markets continued to decline, those to the Mainland and some other Asian markets increased by varying degrees. The spokesman commented further that looking ahead, Hong Kong's export performance will still depend on global demand conditions. In the near term, the external environment will likely remain unsteady, given the fragile recovery of some advanced economies, monetary policy divergence among major central banks, uncertainties stemming from Brexit and heightened geopolitical tensions in various regions.