Year-on-year, exports increased 7.3 percent to HKD 326.6 billion in July of 2017, after an increase of 11.1 percent in the previous month. Exports to Asia as a whole went up by 8.8 percent, mainly to Philippines (26.7 percent); Taiwan (23.5 percent); Thailand (12.7 percent); Japan (9 percent); China (8.8 percent) and Singapore (7.8 percent). Apart from destinations in Asia, an increase was registered in exports to Germany (6.7 percent) while declines were seen to the United Kingdom (-4.9 percent) and the United States (-0.6 percent).
By commodity, exports advanced for: electrical machinery, apparatus and appliances, and electrical parts thereof (13.6%); professional, scientific and controlling instruments and apparatus (28.4%) and office machines and automatic data processing machines (6.0%). However, sales of articles of apparel and clothing accessories fell 12.3 percent.
Imports rose 5.5 percent to HKD 356.2 billion in July of 2017, after a 10.4 percent gain in the preceding month. Increases were recorded from Philippines (28.9 percent); Malaysia (25.4 percent); Korea (23.6 percent); Singapore (18.1 percent) and China (4 percent) while purchases declined from India (-21.2 percent); Thailand (-4.8 percent) and Japan (-4.4 percent).
By commodity, imports grew for: electrical machinery, apparatus and appliances, and electrical parts thereof (10.3%); office machines and automatic data processing machines (9.0%) and professional, scientific and controlling instruments and apparatus (16.6%). In contrast, a decrease was registered in imports of telecommunications and sound recording and reproducing apparatus and equipment (-5.3%).
For the first seven months of 2017 as a whole, exports rose 8.5 percent over the same period in 2016 and imports surged 8.7 percent.