HK exports soar 24.4pc

HONG KONG (AFP) - Hong Kongs exports soared 24.4 percent in May, official data showed Thursday, as vibrant trade within Asia combined with stronger shipments to the United States and Europe. The total value of shipments rose to 254.2b Hong Kong dollars last month, according to the Census and Statistics Department, the seventh consecutive month of yoy growth. Exports across Asia, including to Malaysia, Vietnam, Indonesia, India and mainland China, led the surge with a year-on-year increase of 27.3 percent, the agency said. Exports to the Netherlands and US also recovered strongly with year-on-year increases of 52.4pc and 24 percent respectively. Going forward, the vibrant regional trade in Asia and the prevailing global recovery should continue to provide support to Hong Kongs external trade performance, a department spokesman said. But he warned that Hong Kong exports could suffer later in the year due to a possibly slower recovery in Europe due to the sovereign debt problem.

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