China News Service, Hong Kong, November 11 (Reporter Dai Menglan) According to the statistics on external merchandise trade released by the Census and Statistics Department of the Hong Kong Special Administrative Region Government on the 27th, Hong Kong's overall exports and imports increased by 27.10% and 1.4% year-on-year respectively in October this year. Exports reversed the 2-month losing streak, while imports ended a 6-month losing streak.

According to the Census and Statistics Department of the HKSAR Government, the overall value of merchandise exports in October was HK$10.3799 billion, up 1.4% from the same month last year. The value of merchandise imports in October was HK$10.4056 billion, up 2.6% from the same month last year.

Regionally, the value of Hong Kong's overall exports to Asia increased by 10.5% year-on-year in October, with exports to India rising by 2.28% year-on-year, exports to Vietnam rising by 6.15% year-on-year and exports to the Mainland rising by 2.5% year-on-year. The overall value of exports to some major destinations in other regions declined, with exports to the Netherlands falling by 6.37% year-on-year. In addition, exports to the United States rose 1.0% year-on-year.

Zhuang Tailiang, executive director of the Liu Institute of Global Economics and Finance of Hong Kong Chinese University, said in an interview with a reporter from China News Service that Hong Kong's imports and exports were mainly affected by the mainland, and the import and export of Hong Kong achieved positive growth in the first 10 months, laying the foundation for Hong Kong's imports and exports to reverse the downward trend. He believes that Hong Kong's exports will maintain a slight upward trend, and with the improvement of the economic situation in Europe, he believes that Hong Kong's export situation will be better next year than this year.

A spokesman for the HKSAR Government said that despite a slight year-on-year increase in the value of merchandise exports in October, the overall export performance remained generally weak. Exports to the Mainland and the US rose, while exports to the EU continued to decline significantly. Looking ahead, the difficult external environment will continue to put pressure on Hong Kong's exports in the near term. (ENDS)