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The Census and Statistics Department (C&SD) released today (May 27) the external merchandise trade statistics for April 2013. In April 2013, the values of Hong Kong's total exports and imports of goods both showed year-on-year increases, at 9.0% and 7.7% respectively.
In April 2013, the value of total exports of goods (comprising re-exports and domestic exports) increased by 9.0% over a year earlier to $290.3 billion, after a year-on-year increase of 11.2% in March 2013. Within this total, the value of re-exports increased by 9.3% to $285.8 billion in April 2013, whereas the value of domestic exports decreased by 4.7% to $4.5 billion. Concurrently, the value of imports of goods increased by 7.7% over a year earlier to $333.0 billion in April 2013, after a year-on-year increase of 11.3% in March 2013. A visible trade deficit of $42.7 billion, equivalent to 12.8% of the value of imports of goods, was recorded in April 2013.
For the first four months of 2013 as a whole, the value of total exports of goods rose by 5.3% over the same period in 2012. Within this total, the value of re-exports increased by 5.4%, whereas the value of domestic exports decreased by 1.9%. Concurrently, the value of imports of goods increased by 5.6%. A visible trade deficit of $152.9 billion, equivalent to 12.2% of the value of imports of goods, was recorded in the first four months of 2013.
Comparing the three-month period ending April 2013 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods decreased by 4.1%. Within this total, the value of re-exports decreased by 4.1%, while the value of domestic exports went down by 3.4%. Meanwhile, the value of imports of goods decreased by 2.7%.
Analysis by country/territory
Comparing April 2013 with April 2012, total exports to Asia as a whole grew by 11.6%. In this region, increases were registered in the values of total exports to some major destinations, in particular the mainland of China (the Mainland) (+15.7%), Vietnam (+15.6%), Singapore (+7.1%), India (+4.7%) and Korea (+3.1%). On the other hand, decreases were recorded in the values of total exports to Taiwan (-14.9%), Malaysia (-8.1%) and Japan (-6.2%).
Apart from destinations in Asia, decreases were registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (-13.7%), the USA (-3.6%) and Germany (-3.0%).
Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Taiwan (+17.3%), the Mainland (+14.9%) and the USA (+6.2%). Concurrently, decreases were registered in the values of imports from some major suppliers, in particular Malaysia (-19.2%), Switzerland (-14.4%) and Japan (-14.0%).
For the first four months of 2013 as a whole, year-on-year increases were registered in the values of total exports to some major destinations, in particular the Mainland (+8.7%), Singapore (+7.9%) and Taiwan (+7.6%). Concurrently, year-on-year decreases were registered in the values of total exports to the United Kingdom (-11.0%), Germany (-5.6%) and Japan (-3.9%).
Over the same period of comparison, year-on-year increases were registered in the values of imports from some major suppliers, in particular Taiwan (+12.2%), the Mainland (+11.2%) and Thailand (+9.5%). However, year-on-year decreases were registered in the values of imports from some major suppliers, in particular Japan (-13.0%), Malaysia (-8.0%) and Switzerland (-5.9%).
Analysis by major commodity
Comparing April 2013 with April 2012, increases were registered in the values of total exports of some principal commodity divisions, in particular "telecommunications and sound recording and reproducing apparatus and equipment" (by $11.4 billion or 26.0%), "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $11.0 billion or 15.2%) and "non-metallic mineral manufactures" (by $3.2 billion or 35.3%). However, a decrease was registered in the value of total exports of "office machines and automatic data processing machines" (by $4.9 billion or -13.0%).
Over the same period of comparison, 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 $10.5 billion or 13.1%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $9.9 billion or 22.2%) and "professional, scientific and controlling instruments and apparatus" (by $3.5 billion or 71.7%). However, a decrease was registered in the value of imports of "petroleum, petroleum products and related materials" (by $4.3 billion or -37.8%).
For the first four months of 2013 as a whole, 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 $26.2 billion or 9.4%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $19.4 billion or 10.1%) and "professional, scientific and controlling instruments and apparatus" (by $7.1 billion or 32.9%).
Over the same period of comparison, year-on-year increases were registered in the values of imports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $41.7 billion or 14.1%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $11.9 billion or 6.3%) and "office machines and automatic data processing machines" (by $10.8 billion or 8.9%).
Commentary
A Government spokesman noted that the value of merchandise exports saw some appreciable year-on-year growth in April, though slightly decelerated from that in March. Exports to many Asian economies grew further by varying extents, yet those to the major advanced economies in the US, Europe and Japan were still distinctly weak.
The spokesman commented further that the sustained tepid performance of the major advanced economy markets underlines a still rather unsteady external environment, which might weigh on regional export activities going forward. Hong Kong's export performance will in turn be affected. We will monitor the developments closely.
Further information
Table 1 at the annex presents the analysis of external merchandise trade statistics for April 2013. Table 2 presents the original monthly trade statistics from January 2010 to April 2013, and Table 3 gives the seasonally adjusted series for the same period.
The values of total exports of goods to ten main destinations for April 2013 are shown in Table 4, whereas the values of imports of goods from ten main suppliers are given in Table 5.
Table 6 and 7 show the values of total exports and imports of ten principal commodity divisions for April 2013.
All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for April 2013 will be released in mid-June 2013.
The April 2013 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in April 2013. Detailed merchandise trade statistics analysed by commodity and by country/territory are published in the April 2013 issue of "Hong Kong Merchandise Trade Statistics". The two publications will be available in mid-June 2013. Users can download them free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp230.jsp).
Enquiries on merchandise trade statistics may be directed to Trade Analysis Section (2) of the C&SD (Tel.: 2582 5042).
Ends/Monday, May 27, 2013
Issued at HKT 16:30
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