Hong Kong Electric Machinery exports rose 54.1% in August

Due to the unpredictable impact of the European debt crisis, and continued recovery of demand in Europe and the United States, and the low base of exports in August last year, Hong Kong’s exports rose by 36% year-on-year in August this year, the highest in March 1992, which is the largest in 18 years. Increase. Pan Tengcai, assistant chief economist of the Hong Kong Trade Development Council, admits that he did not estimate that exports would so greatly increase in August. He even said with a smile that many economists have “falled into glasses”; and that exports have risen in the first eight months of this year. More than 26%, unless there are major events in overseas markets, this year's exports will exceed the Bureau's forecast of 12%.

According to regional analysis, compared with the same month of last year, the value of total exports to Asia rose by 40.7%. Within this region, the value of total exports to some major destinations recorded strong increases, notably Thailand’s rise of 58.8%, Vietnam’s rise of 55.2%, Mainland’s rise of 44.7%, India’s gain of 40% and Malaysia’s rise of 34.7%. Apart from destinations in Asia, the value of total exports to some major destinations in other regions also recorded significant increases, notably 25.1% in the United States, 18.8% in the Netherlands, 17.7% in Germany and 10.2% in the United Kingdom.

Analysed by major commodity category, the value of all major global export product categories recorded a significant increase in August, compared with the same month last year, in particular, "electrical machinery, apparatus and equipment and parts" increased by 54.1%, "communications, recording and audio equipment. And equipment rose 39.7% and office machines and automated data processing equipment rose 50.1%.