China Watch Blog

China Watch Blog has picked this news up that China’s exports rose 38.1 percent year on year to US$145.52 billion in July, but the growth rate was down from a 43.9-percent surge in June, the General Administration of Customs said.

Imports increased 22.7 percent from a year earlier to US$116.79 billion, while the pace of growth was slower than June’s 34.1-percent increase, according to a China Daily report.

China’s exports growth would continue to slow in line with an expected slowdown in economic growth in the United States and European Union from the third quarter, said Wang Tao, economist with the UBS Securities.

Wang said growth in exports would continue to outpace that of imports for the rest of the year and she expected the annual trade surplus to hit US$185 billion this year.

On a monthly basis, exports in July were up 5.9 percent from June, but July’s imports edged down 0.4 percentage point from the previous month, the administration said.

China Watch Blog has learnt that the value of Hong Kong’s total exports and imports of goods in June grew 26.7% and 31% year-on-year as the global economic recovery gathered momentum.

According to the Census & Statistics Department, the value of total exports, comprising re-exports and domestic exports, rose 26.7% to $267.6 billion, after a year-on-year increase of 24.4% in May. The value of re-exports rose 26.8% to $261.7 billion, while the value of domestic exports rose 25.3% to $5.9 billion.

The value of imports grew 31% to $298.2 billion, after a year-on-year increase of 29.7% in May. A visible trade deficit of $30.6 billion, equivalent to 10.3% of the value of imports of goods, was recorded.

For the first half the year the value of total exports rose 25.1% over the same period last year. The value of re-exports increased 25.1%, while that of domestic exports grew 22.7%. The value of imports of goods grew 31.9%. A visible trade deficit of $179.1 billion, equivalent to 11.3% of the value of imports of goods, was recorded.

Comparing the second quarter this year with the preceding quarter on a seasonally-adjusted basis, the value of total exports of goods rose 5.2%. Within this total the value of re-exports increased 5.5%, whereas the value of domestic exports fell 5.2%. The value of imports of goods rose 3.2%.

The department said the distinct expansion of merchandise exports expanded in June showing the robust growth of Asian markets and the gradual recovery in the advanced economies. However, the level of uncertainty in the external trading environment remains high, particularly in view of the austerity measures to be implemented in many European economies as well as the fading of the boosting effect from the earlier stimulus measures in the US economy.

China Watch Blog has picked up this news that the volume of Hong Kong’s total goods exports recorded a year-on-year increase of 19.2% in May.

The Census & Statistics Department said today the volume of Hong Kong’s goods re-exports rose 19.3% over a year earlier, while that of domestic exports rose 14.5%. Concurrently, the volume of goods imports increased 22.7%.

The prices of goods re-exports during the month rose 4% over a year earlier, while those of domestic exports increased 6%. Taken together, the prices of total goods exports increased 4.1%. Concurrently, the prices of goods imports rose 6.8%.

Comparing the first five months of this year with the same period in 2009, the volume of goods re-exports grew  21.1%, while that of domestic exports increased 16.4%. Taken together, the volume of total goods exports  increased 21%. The volume of goods imports rose 27.2%.

During the first five months, the prices of goods re-exports increased 3.3% over a year earlier, while those of domestic exports increased 4.3% – thus the prices of total goods exports went up 3.4%. The prices of goods imports increased 4.8%.

Comparing the three-month period ending May with the preceding three months on a seasonally adjusted basis, the volume of total goods exports increased 5.2%. Within this total, the volume of re-exports increased 5.4%, whereas that of domestic exports fell 0.9%. The volume of goods imports rose 2.1%.