Foreign trade continues for 6 consecutive months
Thanks to continued Asian market demand and sharp increase in supplements from Europe and the United States , Hong Kong's exports rose by 26.7% year-on-year to RMB267.6 billion in June, the third highest increase this year, and recorded double-digit growth for six consecutive months. It also rose for eight consecutive months. In the first half of the year, Hong Kong’s exports rose 25.1% year-on-year. Economists have reservations about the export situation in the second half of the year.
Pan Yongcai, assistant chief economist of the Hong Kong Trade Development Council, said that the growth of exports in June was still over 20%, mainly supported by three factors: the rapid increase in the number of supplement orders in the US and Europe, the continuing demand in the Asian market and the impact of the European debt crisis. However, the impact of European debt will surface in July, and EU countries will have to cut benefits to reduce fiscal deficits, affecting consumer sentiment. It is expected that exports will fall below 20% in the third quarter and the number of units will increase in the fourth quarter. .
Pan Yongcai pointed out that due to the need to reduce fiscal deficits, EU countries have successively reduced welfare spending, which will seriously affect local consumer sentiment. It is expected that the EU will be the worst performer in developed regions in the second half of the year. As for the United States, its economy is gradually recovering, but earlier The measures introduced to stimulate the economy have diminished in effectiveness. If no other new stimulus measures are introduced, the US consumer market will not rebound much in the second half.
Hong Kong government says foreign trade is still uncertain
In the Mainland, although Hong Kong’s exports to the Mainland increased by about 26% in June, less than 40% at the beginning of the year, the increase rate of over 20% has been considered good. It is expected that this level will be maintained in the future.
A government spokesperson also pointed out that the foreign trade environment is still very uncertain, especially considering that many European economic systems will implement austerity measures, and that the effectiveness of the US economy’s earlier stimulus measures is gradually decreasing, and the government will continue to pay close attention to the external situation. development of.
According to statistics, the total value of exports of re-exports and domestic exports in June this year was RMB267.6 billion, up 26.7% year-on-year, of which the value of re-exports was RMB 261.7 billion, up 26.8% year-on-year, while the value of domestic exports was 5.9 billion yuan, an increase of 25.3%. At the same time, the value of domestic exports in the first half of this year increased by 25.1% year-on-year, the value of re-exports increased by 25.1%, while the value of domestic exports also rose by 22.7%.
Exports to the United States rose by nearly 30%
By region, in June of this year compared with the same month of last year, the value of total exports to Asia increased by 27.4%, in particular, India rose by 48.4%, Indonesia by 47.3%, Thailand by 46.9%, Malaysia by 39.5% and the Mainland by 26.2%. At the same time, exports to the United States also rose 29.4%, the second largest increase this year. In the first half of this year, the value of total exports to most major destinations recorded a significant increase, especially in Taiwan, which rose 46.9%. India It rose 44.9%, South Korea rose 32%, and the Mainland rose 32%.
Comparing major categories of goods, the value of most major global export product categories recorded significant increases in June of this year compared with the same month of last year. In particular, "communications, recording and audio equipment and apparatus" increased by 79.9%. "Electrical machinery, Instruments and appliances and parts" rose 28% and "Office machines and automatic data processing instruments" rose 17.7%.
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