The value of Hong Kong’s total exports increased to HK$381.3 billion ($50 billion) in August, up 6.4 percent year-on-year, according to official data released on Thursday.

The value of the city's merchandise imports also rose 7.9 percent to HK$414.4 billion during the same period, data from the Census and Statistics Department showed.

A visible trade deficit of HK$33.1 billion, equivalent to 8.0 percent of the value of imports of goods, was recorded last month.

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A Hong Kong Special Administrative Region government spokesman said that the value of merchandise exports grew solidly in August over a year earlier. 

Exports to the Chinese mainland, the United States and the European Union registered increases of varying degree, while those to other major Asian markets saw mixed performance.

For the first eight months of 2024, the value of total exports of goods increased by 11.5 percent over the same period in 2023. The value of imports of goods increased by 8.0 during the same period.

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Comparing the three-month period ending August 2024 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 0.3 percent. Meanwhile, the value of imports of goods increased by 3.8 percent.

Looking ahead, the HKSAR government spokesman said that that while geopolitical tensions and trade conflicts will present risks, Hong Kogn exports performance should remainb psoitive if external demand continues to hold up.