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Hong Kong's Trade Volume Rises in July

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The volume of Hong Kong's total exports and imports both rose in July.

Export volume jumped 31.6% year on year, while the volume of imports climbed 23.6% from a year earlier. Export and import prices increased 13.7% and 13.6%, respectively, according to Thursday data from the Census and Statistics Department.

Changes in trade volume are derived from changes in the trade value with the effect of price changes discounted, the department said.

In August, Hong Kong said its trade deficit significantly narrowed to HK$4.9 billion from HK$52 billion in July as export value jumped 50.7% to HK$672.5 billion, while import value rose 41% to HK$677.4 billion.

During the second quarter, export volume slightly rose 0.9% from the prior quarter, but import volume dropped 4.7%.

Among Hong Kong's trading partners, Taiwan had the biggest growth in export volume, jumping 70.3% from the previous year, but export volume to India fell 7.6%.

The biggest growth of import volume came from Korea, climbing 89.1%, while import volume from Vietnam declined 7%.

The total export and import prices in all of Hong Kong's main destinations and suppliers rose year on year. Mainland China recorded the highest increase in export prices with a 15.4% growth, while Korea's import prices jumped the most with a 31.3% rise.

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