Japan's Earthquake Damaged Supply Chain, Hongkong Exports Shrank Sharply In April

In May 26th, the census and Statistics Department of the Hongkong Special Administrative Region announced Hongkong's overall status in April.

Specifically, in April, the total value of re exports and exports in Hongkong amounted to HK $252 billion, of which the re export value was HK $246 billion 100 million, up 4%; and the value of domestic exports was HK $6 billion, up 7.7%.

Although the growth rate of imports increased from 18.8% in March to 6.1% in the year to April, Hongkong's overall growth in April

Looking at it, in April, the value of Hongkong's total exports to Asia increased by 1.9% compared with the same period last year, and most of its main export value rose strongly, especially in Taiwan (33.8%), Thailand (29.1%), India (up 13.6%) and Singapore (up 12.7%).

But exports to mainland China and Japan fell by 2% and 0.4% respectively.

In addition to Asia, exports to Germany also rose by 30.1%, while the United States edged up 0.1%, while Britain dropped 7.2%.

Among them, the export value of "communications, sound recording and sound equipment and instruments", "non-metallic mineral products" and "miscellaneous products (including pruning cars, toys, games and sporting goods") was particularly notable, but the export of "electric machinery, apparatus and appliances and parts" and "office machines and automatic data processing instruments" fell the top.

A spokesman for the Hongkong Special Administrative Region government said that Hongkong's exports slowed sharply in April.

The overall export performance during the month was mainly caused by the decline in exports of "electric machinery, apparatus and appliances and parts" and "office machines and automatic data processing equipment", which is believed to be partly due to the disruption of the supply chain in Japan caused by the earthquake.

The spokesman said that to observe more data in the next few months, we can determine the basic trend of Hongkong's export growth.

"The economic situation in many Asian markets is still strong and is expected to continue to support Hongkong's foreign trade in the future.

However, we need to remain vigilant against the downside risks of the external environment, especially the follow-up impact of the major earthquake events in Japan, the deterioration of sovereign debt problems in some European countries, the tightening policy in the Asian region, and the political turmoil in parts of North Africa and the Middle East.