Hong Kong saw a significant drop in both imports and exports in the first half of the year, according to the latest statistics. Exports in June were HK$309.6 million, down 9.0% YoY; imports were HK$364.8 million, down 7.5% YoY. This brought the first-half totals down 3.6% YoY and 4.5% YoY, respectively.
Exports to India showed the sharpest decline, down 16.8% YoY. The US followed, down 11.1%, then Taiwan by 8.3%, Germany by 6.6%, Chinese Mainland by 6%. However, there was an increase in total exports to Singapore and Korea with 11.1% and 5.9% respectively.
Imports fell the most from Korea, down by 25.7%, India by 17.4%; Taiwan by 10.8%, Malaysia by 9%, Thailand by 8.2%, and China Mainland by 2.3%, but Swiss stands out with an increase of 2.4%.