Hong Kong’s exports in January beat market estimates and soared almost by a third, benefiting from the low base a year ago and demand from mainland China and the United States.
Total exports grew 33.6 percent from a year ago to HK$388.7 billion, compared to an increase of 11 percent in December, according to data from by the Census and Statistics Department.
It was the fourth monthly increase and the highest in three years.
Imports jumped 21.7 percent to HK$385 billion in January, an 11.6 percent growth the month before.
Imports also rose for a fourth straight month, and were the highest in two-and-a-half years.
A government spokesperson said trade in January and February each year usually fluctuate considerably due to the timing of the Lunar New Year holidays.
January exports were boosted by a recovery in shipments to major destinations.
Goods shipped to Asia increased 45.7 percent from a year ago. Exports to the mainland grew by 54.2 percent, followed by India’s 51 percent and Malaysia’s 48 percent.
Shipments to France and the US also rose by 38.7 percent and 11.5 percent respectively. However, exports to the Netherlands slumped by 45.7 percent yearly.
In terms of commodities, exports of electrical machinery, apparatus and appliances and electrical parts surged 42.8 percent yearly to HK$55.7 billion.
Hong Kong United Times丨香港聯合時報丨HKUT 