Advertisement

Positive data lays false trail

Reading Time:2 minutes
Why you can trust SCMP

Hong Kong's exports rose to $124.67 billion last month, 5.3 per cent higher than a year earlier, according to Government trade figures released yesterday.

Advertisement

Restaurant figures, released at the same time, showed the value of receipts for the third quarter rose 6 per cent year-on-year to $14.9 billion.

Analysts and industry representatives said both sets of figures were positive but warned that recent events meant forthcoming data would probably be less optimistic.

According to the Government's Census and Statistics Department, the increase in exports last month came exclusively from re-exports, which rose 6.3 per cent to $106.6 billion.

The value of domestic exports by comparison fell 0.1 per cent to $17.9 billion compared to the figures for November last year.

Advertisement

Imports increased by 1.5 per cent to $133 billion during the month, meaning the visible trade deficit fell to $8.33 billion from $12.6 billion a year ago.

The trade deficit has been on a downward trend in recent months, falling from a peak of 17.6 per cent in March to 6.3 per cent last month.

Advertisement