HK's exports up 2.9% in 2012

HONG KONG - The value of Hong Kong's total goods exports rose 2.9 percent last year over 2011, the city's Census & Statistics Department announced on Thursday.

Within this total, the value of re-exports increased 3.2 percent, while that of domestic exports decreased 10.4 percent, the department said, adding that the value of goods imports rose 3. 9 percent.

A visible trade deficit of HK$477.8 billion, equivalent to 12.2 percent of the value of imports of goods, was recorded for the year.

In December, the value of total goods exports increased 14.4 percent year-on-year.

Within this total, the value of re-exports rose 14.6 percent to HK$306 billion, while that of domestic exports increased 6. 1 percent to HK$5 billion. Concurrently, the value of goods imports rose 11.9 percent year-on-year to HK$358.9 billion.

A government spokesman said that merchandise exports picked up to see strong year-on-year growth in December, after rebounding notably in November. The faster export growth towards year's-end was seen across many major markets.

Looking ahead, the re-acceleration of the mainland economy should render a stabilizing force to cushion against the relatively weak final demand of the advanced economies, he added.