(RTTNews) - Thursday, the Census and Statistics Department announced that Hong Kong’s total export value increased 11.1% year-over-year to reach HK$265.1 billion in July. Economists were looking for an increase of 5.5%. Exports rebounded from a 0.6% fall recorded in June.

Year-on-year, the value of domestic export decreased 16.3% in July, while the value of re-exports increased 12.4%.

Meanwhile, the value of imports increased 15.4% on an annual basis in July, bettering the 1.3% rise recorded in June. The consensus forecast was for an increase of 8.3%.

Hong Kong recorded a visible trade deficit of HK$19.5 billion in July, which was equivalent to 6.8% of the value of imports of goods. In June, the deficit was HK$23.97 billion.

For the first seven months of the year, the value of exports rose 9.4%, while the value of imports climbed 7.9% compared to same period of the previous year. The visible trade deficit stood at HK$138.7 billion.

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