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Agence France-Presse English Wire via NewsEdge :

HONG KONG, Nov 27, 2008 (AFP) - Hong Kong exports rose 9.4 percent year-on-year in October, driven by a rebound in shipments to the mainland and other major markets in Asia, government data released Thursday showed.

The figure was a rise from the 3.6 percent year-on-year increase in September, the Census and Statistics Department said in a statement.

The value of total exports of goods, mainly produced in southern China’s factory belt, rose to 276.9 billion Hong Kong dollars (35.5 billion US), according to the figures.

The value of imports of goods increased by 11.3 percent over a year earlier to 291.2 billion dollars in October, after a year-on-year increase of 3.9 percent in September.

The visible trade deficit was 14.3 billion dollars, equivalent to 4.9 percent of the value of imports, the figures showed.

A government spokesman said the notable growth was mainly driven by the rebound in the Chinese and other major Asian markets. But he sounded a note of caution at the slight decline in seasonally adjusted export figures over the past three months.

“The global financial crisis has mutated into a synchronised global economic downturn, and its impact on Hong Kong’s trade is likely to show up more fully in the coming months,” the spokesman said.

“The Government needs to stay alert to the play-out of the global financial crisis and the looming economic downturn.”

pol/dan

HongKong-economy-trade

AFP 270850 GMT 11 08

<<Agence France-Presse English Wire — 11/28/08>>