Exports value down to $338.3b in April

The value of Hong Kong exports went down by 13%.

The value of total exports fell to $338.3b in April 2023, down by 13% month-on-month, the Census & Statistics Department announced today.

The value of imports of goods declined 11.9% to $374.9b for the same period. A trade deficit of $36.6b, or 9.8% of the value of imports, was documented in April.

Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports grew 15.4%, whilst that of imports went up 10.7%.

The government noted that the value of merchandise exports dropped further from a year earlier in April. Exports to the Mainland, the US, and the European Union all contracted and exports to other major Asian markets recorded decreases of varying degrees.

“Looking ahead, it added that the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the Mainland economy should provide some relief,” read the government statement.