bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

SCMP Reporter

GLOBAL demand for Hong Kong goods outpaced the growth of imports in May, according to the Government.

  Export volumes rose more than 20 per cent compared with a 19 per cent rise in the volume of imports.

  The year-on-year figures reverse a recent trend in which Hong Kong demand for capital goods resulted in imports being higher than the territory's exports.

  The underlying trend is reflected in figures for the first five months which revealed that the territory's combined domestic exports and re-exports produced year-on-year growth of 16 per cent and imports rose 19 per cent.

  The turnaround by exporters has been largely attributed to the weak dollar, giving Hong Kong traders a competitive edge over their regional competitors.

  This has coincided with a surge in demand for electronic components, such as semi-conductors, from major Western markets.

  According to the Government, there was a 27 per cent rise in the volume of components and 30 per cent rise in their value in the five months to the end of May.

  Processed metal ores and scrap posted a 30 per cent increase in volume and 41 per cent rise in value in the period.

  Comparing May with the same month last year, ores rose 79 per cent and scrap, 87 per cent.

  Hong Kong firms more than doubled their exports of radios and posted a 79 per cent rise in processed metal ores and scrap.

  Re-exports, typically those goods originating in China and exported via Hong Kong, rose 18 per cent in the first five months of the year with capital goods rising 32 per cent in volume and 29 per cent in value.

  Foodstuffs posted a 24 per cent rise in volume and 25 per cent rise in value in the same period.

  Michael Martin, assistant chief economist for the Hong Kong Trade Development Council, said: 'We are looking at a significant regional restructuring in manufacturing. Japanese companies are looking at their continued reliance on local manufacturers.'   He said Hong Kong would remain an important alternative source while the yen maintained its current values.

  'As incomes continue to rise in Asia, there will also be a growing domestic market for our products from markets such as Malaysia, Indonesia and Thailand,' he said.

  Prices of domestic exports rose 3.4 per cent in May from the same month last year, re-exports prices rose 4.2 per cent and import prices were up 6.7 per cent.

  There were falls in the amount of textile fabrics, travel goods and domestic electrical appliances exported from Hong Kong and export volumes of footwear fell 55 per cent over both one and five months.



Exports outstrip imports