Hong Kong's total goods exports up 6.3 pct in November

Hong Kong recorded total goods exports of 244 billion HK dollars (31.28 billion U.S. dollars) in November, representing a year-on-year growth of 6.3 percent.

The growth was slower than the year-on-year growth of 9.8 percent in October, the Census and Statistics Department of the Hong Kong SAR government said in a report released Friday.

"Merchandise exports saw a notable expansion in November. The mainland market was vibrant, albeit expanding at a less rapid pace than in previous months on a year-on-year comparison," a spokesman for the Census and Statistics Department said.

Within the above-mentioned total exports of 244 billion HK dollars, re-exports were up 6.9 percent at 234 billion HK dollars (30 billion U.S. dollars) and domestic exports rose 0.8 percent to 10 billion HK dollars (1.28 billion U.S. dollars).

Concurrently, goods imports rose 9.3 percent over a year earlier to 260 billion HK dollars (33.33 billion U.S. dollars) after a year-on-year rise of 12.1 percent in October, leading to a visible trade deficit of 16 billion HK dollars (2.05 billion U.S. dollars), equivalent to 6.1 percent of goods imports in November.

For the first 11 months, total goods exports grew 9.3 percent year on year.

Visible trade deficit for the first 11 months as a whole was 153.2 billion HK dollars (19.64 billion U.S. dollars), equivalent to 5.9 percent of goods imports.

In analysis by country or region, exports to Asia in November rose 9.3 percent, with an increase of 36.3 percent registered in the values of total exports to India, 19.6 percent for Indonesia, 17.4 percent for Thailand and 13 percent for Malaysia.

Exports to the Chinese mainland in November went up 9.5 percent.

The rises offset export falls to the United States and Japan.

The month saw significant increases in trade of many principal commodities, particularly telecommunications and sound recording and reproducing apparatus and equipment, which went up 31.9 percent in exports and 31.1 percent in imports.

Electrical machinery, apparatus and appliances, and electrical parts also grew 18.1 percent in exports and 15.5 percent in imports.

For the first 11 months of the year, significant year-on-year increases were recorded in total exports and imports of most principal commodities, particularly electrical machinery, apparatus and appliances, and electrical parts.

Looking ahead, the spokesman said outlook for external environment was subject to greater uncertainty and much would depend on whether the U.S. economy would slow down sharply in the coming quarters and the extent of the fallout from U.S. credit crunch.

But the vibrant mainland market and the sound economic fundamentals of the Asian region should continue to provide support to Hong Kong's external trade, he added. (7.8 HK dollars =1 U.S. dollar)