Hong Kong’s Exports in May Up By 14.8%
Hong Kong’s total exports reached $375.9 billion in May, marking a 14.8% increase compared to the same month last year, according to the Census & Statistics Department.
During the same period, the value of imports grew by 9.6% to $388.1 billion, resulting in a trade deficit of $12.1 billion, or 3.1% of total imports.
Seasonally adjusted figures show that for the three-month period ending in May, export values rose by 1.5%, while import values declined by 1.7% compared to the previous three months.
The Government noted that merchandise exports maintained double-digit solid growth in May. Exports to Mainland China and the US rose significantly, while European Union exports also increased. Growth was recorded in other major Asian markets as well.
Looking ahead, the Government expects Hong Kong’s export performance to remain positive if external demand stays robust, although geopolitical tensions may continue to create uncertainties. This is definitely a positive news for those looking to start a business in Hong Kong.
