Hong Kong exports rise 11.9%, as shipments to mainland China, Asia markets jump

Hong Kong’s exports jumped by 11.9 per cent in June from a year ago, with the government attributing the sustained performance to the continued expansion of sales to mainland China and other Asian markets while trade with the West fell.

Growth tapered off from a 15.5 per cent year-on-year increase in May, as exports to the United States and European Union declined in June amid the ongoing US-China trade war.

The value of total exports reached HK$$417.8 billion (US$53.5 billion) in June, the Census and Statistics Department said on Monday.

A government spokesman said exports to the mainland and other Asian markets continued to “expand visibly”, while those to the US and EU fell.

“Looking ahead, the sustained steady growth in various Asian economies, in particular, the mainland economy, as well as Hong Kong’s enhanced economic and trade ties with different markets, should continue to support merchandise trade performance,” the spokesman said.

“Nonetheless, the outlook of global trade policy is still uncertain. The government will continue to monitor the situation closely and stay vigilant.”

The June trade figures came just ahead of the initial July deadline of a tariff truce between China and the United States. The deadline has since been extended to August with the Post reporting earlier in an exclusive that the two sides are expected to further extend the truce by another three months.