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Hong Kong saw the value of its economic exports rise to $441.8 billion. This is an increase of 16.5% from the same month in the previous year.
Imported goods also saw their value increase by 23.5% during this same period. Comparing this year’s 3rd quarter earnings with the same from last year, Hong Kong recorded an increase of 0.3% and 1.2% for exports and imports respectively.
Value of Exports Merchandise Keeps Expanding
The Hong Kong government has a positive outlook on the economic situation in Hong Kong. According to the Government, the value of merchandise that is exported continues to expand steadily in September. This is despite the higher comparison base.
Double-digit growth was recorded for exports to key Asian markets, the EU, the Mainland, and the US. There is a 13.2% increase in merchandise trade value for the first 9 months of this year, compared to the same period in 2018. Amounting to $7.4337 trillion.
With the global economy on track for recovery, external demand should remain supportive looking ahead. Nevertheless, there are still uncertainties about the global economic outlook that continue to linger because of the COVID-19 pandemic. Bottlenecks in supplies in several locations could potentially hinder trading activities and global production too.
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