HK's exports up 2.9 pct in 2012

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 477.8 billion HK dollars, 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 306 billion HK dollars, while that of domestic exports increased 6. 1 percent to 5 billion HK dollars. Concurrently, the value of goods imports rose 11.9 percent year-on-year to 358.9 billion HK dollars.

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. (1 U.S. dollar equals to 7.75 HK dollars)