Hong Kong's Merchandise Exports Expands Distinctly Further In June.

Hong Kong's merchandise exports expanded distinctly further in June, mainly reflecting the robust growth of Asian markets and the gradual recovery in the advanced economies.

In June 2010, the value of total exports of goods (comprising re-exports and domestic exports) increased by 26.7% over a year earlier to $267.6 billion, after a year-on-year increase of 24.4% in May 2010. Within this total, the value of re-exports increased by 26.8% to $261.7 billion in June 2010, while the value of domestic exports increased by 25.3% to $5.9 billion. Concurrently, the value of imports of goods increased by 31.0% over a year earlier to $298.2 billion in June 2010, after a year-on-year increase of 29.7% in May 2010. A visible trade deficit of $30.6 billion, equivalent to 10.3% of the value of imports of goods, was recorded in June 2010.

For the first half of 2010 as a whole, the value of total exports of goods rose by 25.1% over the same period in 2009. Within this total, the value of re-exports increased by 25.1%, while the value of domestic exports increased by 22.7%. Concurrently, the value of imports of goods increased by 31.9%. A visible trade deficit of $179.1 billion, equivalent to 11.3% of the value of imports of goods, was recorded in the first half of 2010.

Comparing the second quarter of 2010 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods rose by 5.2%. Within this total, the value of re-exports increased by 5.5%, whereas the value of domestic exports went down by 5.2%. Meanwhile, the value of imports of goods increased by 3.2%.

Comparing the second quarter of 2010 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods rose by 5.2%. Within this total, the value of re-exports increased by 5.5%, whereas the value of domestic exports went down by 5.2%. Meanwhile, the value of imports of goods increased by 3.2%.

Comparing June 2010 with June 2009, total exports to Asia as a whole grew by 27.4%. In this region, strong increases were registered in the values of total exports to most major destinations, in particular India (+48.4%), Indonesia (+47.3%), Thailand (+46.9%), Malaysia (+39.5%) and the mainland of China (the Mainland) (+26.2%).

Apart from destinations in Asia, significant increases were also registered in the values of total exports to some major destinations in other regions, in particular the Netherlands (+42.4%) and the USA (+29.4%).

Over the same period of comparison, significant increases were registered in the values of imports from all major suppliers, in particular Korea (+51.4%), Thailand (+49.4%), India (+46.1%), Singapore (+45.7%) and the Mainland (+28.2%).

For the first half of 2010 as a whole, significant year-on-year increases were registered in the values of total exports to most major destinations, in particular Taiwan (+46.9%), India (+44.9%), Korea (+32.0%), the Mainland (+32.0%) and the Netherlands (+27.4%).

Over the same period of comparison, significant year-on-year increases were registered in the values of imports from all major suppliers, in particular Korea (+52.2%), Taiwan (+49.0%), Singapore (+48.4%), Thailand (+48.1%) and the Mainland (+26.2%).

Comparing June 2010 with June 2009, significant increases were registered in the values of total exports of most principal commodity divisions, in particular "telecommunications and sound recording and reproducing apparatus and equipment" (by $23.2 billion or 79.9%), "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $16.3 billion or 28.0%) and "office machines and automatic data processing machines" (by $3.9 billion or 17.7%).

Over the same period of comparison, significant increases were registered in the values of imports of all principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $23.0 billion or 37.1%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $16.5 billion or 60.8%) and "office machines and automatic data processing machines" (by $4.9 billion or 22.1%).

For the first half of 2010 as a whole, significant year-on-year increases were registered in the values of total exports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $110.2 billion or 37.6%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $52.1 billion or 29.1%) and "office machines and automatic data processing machines" (by $39.8 billion or 35.6%).

Over the same period of comparison, significant year-on-year increases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $149.8 billion or 48.4%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $51.9 billion or 33.2%) and "office machines and automatic data processing machines" (by $38.4 billion or 34.6%).

Source : indiainfoline.com