Statistics on external merchandise trade released by the Census and Statistics Department today (29 December) showed that the value of Hong Kong's overall exports and imports recorded year-on-year declines in April this year, falling by 4% and 13.11% respectively.

After recording a 3.1% year-on-year decline in March this year, the overall value of merchandise exports in April this year fell by 5% year-on-year to MOP4.3 billion. Meanwhile, the value of merchandise imports in April fell by 383.13% year-on-year to MOP3.0 billion, following a year-on-year decline of 6.4% in March this year. In April this year, a tangible trade deficit of 3.749 billion yuan was recorded, equivalent to 11.9% of the value of goods imported.

In April this year, compared with the same month last year, the overall value of exports to Asia fell by 4.13%. In the region, the overall value of exports to most major destinations declined, notably Malaysia (down 3.26%), Singapore (down 4.21%), India (down 1.19%), Vietnam (down 7.19%), Taiwan (down 6.18%), the Philippines (down 2.13%) and Chinese mainland (Mainland) (down 7.12%). On the other hand, the value of exports to Thailand (up 9.3%) rose at a higher rate.

Exports to the United States fell by nearly 20%.

With the exception of Asian destinations, the overall value of exports to most major destinations in other regions declined, notably the United States (-19.9%), Germany (-15.9%) and the United Kingdom (-2.5%).

During the same period, the value of imports from most major suppliers declined, notably Singapore (down 35.5%), South Korea (down 33.8%), the United States (down 28.4%), Japan (down 18.5%), Vietnam (down 17.9%) and the mainland (down 3.6%).

In April this year, compared with the same month last year, the overall export value of some major goods categories recorded declines, in particular "Electrical machinery, instruments and appliances and parts" (down MOP4.375 billion, down 19.3%), "Communications, Recording and Audio Equipment and Instruments" (down MOP109.21 billion, down 5.44%) and "Office Machinery & Automatic Data Processing Equipment" (MOP 11.5 billion, down 40.75%). On the other hand, the overall export value of Power Generating Machinery & Instruments (up by MOP1.<> billion, up by <>.<>%) rose at a year-on-year increase.

During the same period, the value of imports of some major categories of goods declined, in particular, "Electrical machinery, instruments and appliances and parts" (down MOP301.15 billion, down by 8.86%), "Office Machinery and Automatic Data Processing Equipment" (down MOP24.1 billion, down by 62.12%) and "Communications, Recording & Audio Equipment and Instruments" (down MOP6.36 billion, down by 39.2%). On the other hand, imports of Power Generating Machinery & Instruments (up by MOP<>.<> billion, up by <>.<>%) rose at a year-on-year increase.

A government spokesman said the value of merchandise exports fell further year-on-year in April. (Online image)

A government spokesman said the value of merchandise exports fell further year-on-year in April. Exports to the Mainland, the US and the EU all declined. Exports to other major Asian markets declined to varying degrees.

Looking ahead, weakness in advanced economies will continue to weigh on Hong Kong's export performance, although it is expected that accelerated recovery from the Mainland's economy should ease some of the pressure.

The overall value of merchandise exports in the first four months fell by 2022.16% compared with the same period in 5. At the same time, the value of merchandise imports fell by 12.5%. During the period, a tangible trade deficit of MOP1.484 billion was recorded, equivalent to 10.4% of the value of merchandise imports.