Hong Kong's domestic exports fell 10.4% to $4.9b

Imports also fell to  $347.1b.

In a report, the Census & Statistics Department announced the values of Hong Kong's total goods exports and imports recorded year-on-year dips of 1.3% and 0.2% in August.

The value of total goods exports fell to $307.5 billion. Within this total, the value of re-exports decreased 1.2% to $302.6 billion, while that of domestic exports dropped 10.4% to $4.9 billion.

The value of goods imports fell to $347.1 billion.

A visible trade deficit of $39.6 billion, equivalent to 11.4% of the value of goods imports, was recorded in the month.

For the first eight months as a whole, the value of total goods exports rose 3.5% over the same period in 2012. Within this total, the value of re-exports grew 3.6%, while that of domestic exports fell 5.8%.

The value of goods imports increased 4.1%. A visible trade deficit of $322.6 billion, equivalent to 12.4% of the value of goods imports, was recorded in the period.

The department noted merchandise exports relapsed to a modest year-on-year decline in August, after a notable rebound in July. Exports to the US and Japan fell, while those to Europe improved and those to other Asian markets showed a mixed performance.

Looking ahead, the external environment will remain challenging given the advanced economies' tepid recovery, the slower growth in emerging markets, and the uncertainty arising from the US monetary policy and fiscal issues, it said. As such, Hong Kong's export performance may still be subject to fluctuations in the near term.