Year-on-year, exports went down 9 percent to HKD 309.6 billion in June 2019, mostly due to lower sales of electrical machinery, apparatus & appliances, and electrical parts thereof (-8.9 percent); telecommunications & sound recording and reproducing apparatus & equipment (-13.2 percent); and office machines & automatic data processing machines (-21.2 percent). Meanwhile, sales of miscellaneous manufactured articles increased 7.7 percent.
Exports to Asia as a whole dropped 8.4 percent, namely Thailand (-13.6 percent), the Mainland (-10.6 percent), South Korea (-8.4 percent), Malaysia (-7.8 percent), and Japan (-6.5 percent). On the other hand, exports went up to the Philippines (33.2 percent) and Taiwan (13.9 percent). Apart from destinations in Asia, export decreased to Germany (-14.4 percent) and the US (-6.6 percent).
Imports declined 7.5 percent to HKD 364.8 billion, mainly due to lower purchases of electrical machinery, apparatus & appliances, and electrical parts thereof (-8.9 percent); telecommunications & sound recording and reproducing apparatus & equipment (-14.7 percent); and office machines & automatic data processing machines (-17.5 percent). In contrast, purchases of power generating machinery and equipment advanced 27.8 percent.
Among major trading partners, imports fell from South Korea (-25.7 percent), India (-17.4 percent), Taiwan (-10.8 percent), Malaysia (-9 percent), Thailand (-8.2 percent), and the Mainland (-2.3 percent). Meantime, imports rose from Switzerland (2.4 percent).
A Government spokesman said that the year-on-year decrease in the value of merchandise exports enlarged to 9.0% in June, as the soft global economic environment and continued US-Mainland trade tensions put further strains on manufacturing activities and trade flows in Asia. Exports to most major markets recorded declines of varying degrees. Looking ahead, the near-term performance of Hong Kong's merchandise exports will remain constrained by the softening global economy and uncertainties arising from US-Mainland trade tensions and other external developments. The Government will stay vigilant.