Exports value eases to 3.5% YoY in October

In September, exports value rose 4.7% YoY.

The value of exports rose 3.5% YoY to $393b in October, easing from the 4.7% YoY growth in September.

Principal commodity divisions which registered increases in export value include "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $17.8b or +10.4% YoY).

Data from the Census & Statistics Department (C&SD) also showed that total exports to Asia grew by 5.3% YoY.

Outside Asia, the United States (+5.8% YoY) recorded an increase in the value of total exports.

The value of imports likewise increased in October, rising by 4.5% YoY to $424b.

With the uptick in exports and imports, the trade deficit hit $31b or 7.3% of the value of imports.

The government said Hong Kong’s export performance may struggle amidst global risks, but Mainland policies could bolster demand.