HK's exports and imports rise

The values of Hong Kong's total goods exports and imports recorded year-on-year increases of 5.2 percent and 4.6 percent in May, according to Hong Kong's Census and Statistics Department. The value of total goods exports, comprising re-exports and domestic exports, grew 5.2 percent over a year earlier to 294.5 billion HK dollars (38 billion U.S. dollars), after a year-on-year increase of 5.6 percent in April. The value of re-exports increased 5.6 percent to 289.2 billion HK dollars and the value of domestic exports dropped 13.5 percent to 5.3 billion HK dollars, Chinese News Agency (Xinhua) reported. The value of goods imports grew 4.6 percent over a year earlier to 330.1 billion percent in May. A visible trade deficit of 35.6 billion HK dollars, equivalent to 10.8 percent of the goods imports value, was recorded. The value of total goods exports rose 1.3 percent in the first five months over the same period in 2011. Within this total, the value of re-exports increased 1.8 percent, whereas the value of domestic exports dropped 21.2 percent. As the value of goods imports increased 2.4 percent, a visible trade deficit of 177 billion HK dollars, equivalent to 11.7 percent of the value of goods imports, was recorded in the first five months. (QNA)