Driven by the strong performance of mainland China and other emerging economies, Hong Kong exports soared 15.8% in January, official figures showed Feb. 28. Exports reached 240.1 billion Hong Kong dollars (US$30.8 billion), after a year-on-year increase of 8.2% in December.
A government spokesman said the bulk of the growth came from China and other emerging markets, and that the expansion of the EU market had also contributed. He said the global trading environment remained uncertain, as the U.S. economy continued to weaken and as financial market turmoil had yet to settle. But he expressed optimism that strong growth in many emerging economies would continue to provide support to Hong Kong's trade performance.
Total exports to India recorded by far the highest growth during the month, up 140% to 4.6 billion dollars. This was followed by Malaysia, up 38%, and Indonesia, up 37.9%.
Exports to the U.S. declined by 0.8% to 29.2 billion dollars. Imports rose 16.9% year-on-year to 247.6 billion dollars, after a 10.3% increase in December.
Copyright Agence France-Presse, 2008