HONG KONG's imports declined 4.7 per cent while exports fell 6.8 per cent in March year on year, according to the Census & Statistics Department.

The value of total goods exported in March, comprising re-exports and domestic exports, dropped 6.8 per cent over a year earlier to HK$262.4 billion (US$33.81 billion), after a year on year increase of 14 per cent in February. Within this total, the value of re-exports fell 6.4 per cent to HK$257.5 billion in March, while the value of domestic exports slumped 23 per cent to HK$4.9 billion.

The value of goods imported in March fell 4.7 per cent over a year earlier to HK$306.3 billion, after a year on year increase of 20.8 per cent in February. A visible trade deficit of HK$43.9 billion, equivalent to 14.3 per cent of the value of goods imported was recorded, according to Hong Kong Government Information Services.

In the first quarter, the value of goods exported dipped 1.5 per cent over year on year. Within this total, the value of re-exports' declined one per cent, while the value of domestic exports tumbled 24.1 per cent.

As the value of goods imported nudged up 0.7 per cent, a visible trade deficit of $98.5 billion, equivalent to 11.2 per cent of the value of goods imported, was recorded in the first quarter.

Comparing the first quarter with the preceding quarter on a seasonally adjusted basis, the value of total goods exported rose 3.3 per cent. Within this total, the value of re-exports rose 3.4 per cent, while the value of domestic exports slipped 1.3 per cent. The value of goods imported rose 1.1 per cent.