Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



External merchandise trade statistics for October 2019

 



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Daniel McAtee in Washington, D.C.: (202) 238 6360
Wing Yan Tong in San Francisco: (415) 835 9315

 




November 26, 2019 - The Census and Statistics Department (C&SD) released today the external merchandise trade statistics for October 2019. In October 2019, the values of Hong Kong's total exports and imports of goods both recorded year-on-year decreases, at 9.2% and 11.5% respectively.

In October 2019, the value of total exports of goods decreased by 9.2% over a year earlier to US$44.6 billion (HK$348.5 billion), after a year-on-year decrease of 7.3% in September 2019. Concurrently, the value of imports of goods decreased by 11.5% over a year earlier to US$48.6 billion (HK$379.1 billion) in October 2019, after a year-on-year decrease of 10.3% in September 2019. A visible trade deficit of US$3.9 billion (HK$30.6 billion), equivalent to 8.1% of the value of imports of goods, was recorded in October 2019.

For the first 10 months of 2019 as a whole, the value of total exports of goods dropped by 5.1% over the same period in 2018. Concurrently, the value of imports of goods decreased by 7.0%. A visible trade deficit of US$47.1 billion (HK$367.5 billion), equivalent to 10.1% of the value of imports of goods, was recorded in the first 10 months of 2019.

Comparing the three-month period ending October 2019 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 0.7%. Meanwhile, the value of imports of goods decreased by 1.7%.

A Government spokesman said that the year-on-year decline in the value of merchandise exports accelerated further in October, buffeted by sluggish global demand and continued US-Mainland trade tensions. Exports to many major markets registered visible declines.

Looking ahead, Hong Kong's merchandise export performance will likely stay weak in the near term, as soft global economic growth and uncertainties stemming from US trade policies continue to dampen external demand. The Government will continue to monitor the situation closely.


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