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HK's export surges 13.9% in March
(Xinhua)
Updated: 2004-04-28 14:58

The value of Hong Kong's total exports of goods in March increased by 13.9 percent over a year earlier to HK$162.9 billion (US$20.88 billion), according to a press release from the Census and Statistics Department on Tuesday.

A government Secretariat spokesman noted Tuesday that merchandise exports remained vibrant in March on the back of a generally favorable global economic environment and continued surge in intra-regional trade.

He said exports to many East Asian economies, including the Chinese mainland, the Republic of Korea, China's Taiwan Province, Malaysia and Singapore, registered further sharp increases in March. Exports to the European Union continued to display double-digit growth.

The spokesman also pointed out that the further rise in retained imports in March signified continued strength in domestic demand.

In March, the value of re-exports increased by 14.5 percent to HK$153.2 billion (US$19.64 billion), while the value of domestic exports increased by 4.5 percent to HK$9.7 billion (US$1.24 billion).

The value of imports of goods in March increased by 15.4 percent over a year earlier to HK$178.0 billion (US$22.82 billion) after a year-on-year increase of 33.3 percent in February.

For the first quarter of 2004, the value of total exports of goods rose markedly, by 13.0 percent over the same period in 2003. Within this total, the value of re-exports surged by 14.0 percent, but the value of domestic exports fell by 0.6 percent.

The value of imports of goods also increased distinctly, by 15. 7 percent.

Comparing the first quarter of 2004 with the fourth quarter of 2003 on a seasonally adjusted basis, the value of total exports of goods rose by 4.5 percent. Within this total, the value of re-exports increased by 5.0 percent, while the value of domestic exports decreased by 1.4 percent. Meanwhile, the value of imports of goods went up by 4.8 percent.

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