Hong Kong's value of total goods exports in June slip to 211.1 billion HK dollars (27 billion U.S. dollars), down by 5.4 percent year on year, the Census and Statistics Department of Hong Kong announced on July 27.
Within this total, the value of re-exports dropped by 4.2 percent to 206.4 billion HK dollars, while the value of domestic exports fell 38.7 percent to 4.7 billion HK dollars, according to the department.
In the first half of this year, the value of total goods exports dropped by 17.2 percent over the same period of last year.
The department said that the improvement in exports was mainly underpinned by the revival in exports to the Chinese mainland.
Exports to the European Union, Japan and many other Asian economies also showed some improvement, although the declines remained notable. Exports to the U.S. were still on a distinct decline, said the department.
While the global economy remains weak with signs of a strong rebound not yet in sight, the latest export trend and the feedback amongst traders indicate Hong Kong's exports should have passed the worst in the first quarter, the department said.
With the mainland economy returning to a faster growth track, Hong Kong's exports should poise for some further relative improvement in the quarters ahead, said the department. (1 U.S. dollar = 7.742 HK dollars)
