This undated photo shows the Kwai Tsing Container Terminals in Hong Kong. (PHOTO / XINHUA)
Hong Kong’s overall goods export volume fell 6.9 percent in August compared to the same period last year. Imports also saw a decrease of 3.9 percent.
According to the Census and Statistics Department, those declines persisted throughout the first eight months of 2023. Hong Kong’s overall goods export volume suffered a notable drop of 16.4 percent, while the import volume decreased by 14.1 percent compared to the same period in 2022.
Furthermore, in August, there was a rise in the overall prices of exported and imported goods, with respective increases of 3.7 percent and 3.8 percent. Over the first eight months, overall export prices rose by 4.2 percent, while import prices increased by 3.8 percent.
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A government spokesperson said goods exports remained feeble in August. Exports to the United States and the European Union experienced pronounced shrinkages compared to 2022, while exports to the Chinese mainland and most major Asian markets saw varying declines.
Looking ahead, weak external demand for goods will continue to weigh on Hong Kong’s export performance in the near term, the spokesperson said.
