Hong Kong exports up 1.7% in February

HONG KONG - Hong Kong saw the value of total exports of goods in February up 1.7 percent from the same period last year and the value of imports of goods down 3.2 percent, statistics showed on Tuesday.

As the trade flows in January and February of each year tend to show considerable volatilities due to difference in timing of the Lunar New Year holidays, it is useful to analyze the trade figures of the two months together, according to the Census and Statistics Departments of the government of China's Hong Kong Special Administrative Region.

Taking January and February as a whole to neutralize the distortion caused by the difference in timing of the Lunar New Year holidays, the value of total exports of goods gained by 10.7 percent year on year. The value of imports of goods rose by 10.5 percent. A visible trade deficit of HK$74.4 billion, equivalent to 11.1 percent of the value of imports of goods, was recorded in the first two months.

In February, the value of total exports of goods rose by 1.7 percent over a year earlier to HK$245.7 billion, after a year-on-year increase of 18.1 percent in January. The value of imports of goods shrank by 3.2 percent over a year earlier to HK$288.5 billion in February, after a year-on-year rise of 23.8 percent in January. A visible trade deficit of HK$42.7 billion, equivalent to 14.8 percent of the value of imports of goods, was recorded.

A government spokesman said external merchandise trade performed well in the beginning of this year amid the solid expansion of the global economy.

Taking the first two months together, the value of merchandise exports picked up to show double-digit growth over a year earlier, with major markets generally registering notable gains, the spokesman said.