Hong Kong Exports Jump 14.3% in July

Exports from Hong Kong rose by 14.3% year-on-year to $446.3 billion in July, accelerating from an 1.9% gain in June.

Exports to Asian markets climbed by 19.3%, with particularly strong growth in Taiwan (+91.9%), Malaysia (+80.7%), Singapore (+42.5%), Vietnam (+42.1%), the Philippines (+16.5%) and the mainland of China (+16.1%).

In contrast, shipments to non-Asian destinations weakened, notably to the US (-7.6%) and the Netherlands (-42.1%).

By product category, exports rose across most sectors, led by electrical machinery and apparatus (22.8% vs 20.2% in June), telecommunications and sound recording and reproducing equipment (32.0% vs 2.6%), power generating machinery and equipment (29.9% vs 19.3%), and non-ferrous metals (47.8% vs 80.8%).

In contrast, exports fell in office and automatic data processing machines (-4.4% vs 10.4%), miscellaneous manufactured articles (-5.7% vs 8.9%), scientific and precision instruments (-0.8% vs -9.2%) and non-metallic mineral goods (-18.1% vs -8.3%).