The Hong Kong Special Administrative Region Census and Statistics Department announced on December 28 that in November 2010, Hong Kong’s total export and import value increased by 16.6% and 16.4% year-on-year to HK$273 billion and HK$296.6 billion, respectively, with a visible trade deficit of HK$23.5 billion. This is equivalent to 7.9% of the value of imports of goods.

In the first 11 months of 2010, the value of Hong Kong’s total merchandise exports rose by 23.8% year-on-year, and the value of merchandise imports rose by 26.1%, with a visible trade deficit of HK$290.5 billion, equivalent to 9.5% of the value of merchandise imports.

Compared with the same period of last year, the value of Hong Kong’s total exports to Asia in November increased by 17.8%, with Vietnam up 43.9%, Thailand up 23.2%, Malaysia up 20.4%, South Korea up 19.9%, Singapore up 19.9% ​​and the mainland up 18.6%. %.

In addition to destinations in Asia, the value of total exports to the United States also rose by 14.9% year-on-year, while the value of total exports to Europe and other places recorded a decrease, in particular, the United Kingdom fell 8.6%, Germany fell by 0.9% and The Netherlands fell 0.5%.

Over the same period, significant increases were recorded in the value of imports from all major suppliers, in particular the United States rose 21.8%, Thailand rose 19.6%, Singapore rose 19.2, the mainland rose 18.1% and Japan rose 15.1%.

In November, the value of all major global export product categories recorded a year-on-year increase. In particular, “office machines and automatic data processing equipment” increased by HK$7.5 billion, a 32.6% year-on-year increase and “electrical machinery, instruments and appliances and parts” increased year-on-year. HK$7.2 billion rose 11.1% and “communications, sound recordings and audio equipment and apparatus” increased by HK$6.5 billion from the same period last year by 14.9%.

Over the same period, the values ​​of all major import categories also recorded year-on-year increases. In particular, “electrical machinery, apparatus and appliances and parts” increased by HK$7.6 billion, up 10.6%, and “communications, recording and audio equipment and instruments” increased by 6.2 billion over the same period last year. Hong Kong dollar rose 16.7% and “office machines and automatic data processing instruments” increased by HK$6.1 billion by 27.0%.

A government spokesperson said that Hong Kong’s merchandise exports have been strong in November, and they have recorded significant year-on-year growth, even though they have a relatively high base in the same period last year. This mainly reflects the strong demand in Asian markets.

The spokesman further pointed out that the continued growth of Asian economies is expected to continue to provide strong support for Hong Kong’s foreign trade in the future. However, the fundamentals of the advanced economies are still fragile and there are still hidden concerns.