The Census and Statistics Department (C&SD) released today (November 26) the external merchandise trade statistics for October 2019. In October 2019, the values of Hong Kong's total exports and imports of goods both recorded year-on-year decreases, at 9.2% and 11.5% respectively.

     In October 2019, the value of total exports of goods decreased by 9.2% over a year earlier to $348.5 billion, after a year-on-year decrease of 7.3% in September 2019. Concurrently, the value of imports of goods decreased by 11.5% over a year earlier to $379.1 billion in October 2019, after a year-on-year decrease of 10.3% in September 2019. A visible trade deficit of $30.6 billion, equivalent to 8.1% of the value of imports of goods, was recorded in October 2019.

     For the first 10 months of 2019 as a whole, the value of total exports of goods dropped by 5.1% over the same period in 2018. Concurrently, the value of imports of goods decreased by 7.0%. A visible trade deficit of $367.5 billion, equivalent to 10.1% of the value of imports of goods, was recorded in the first 10 months of 2019.

     Comparing the three-month period ending October 2019 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 0.7%. Meanwhile, the value of imports of goods decreased by 1.7%.

Analysis by country/territory

     Comparing October 2019 with October 2018, total exports to Asia as a whole went down by 6.4%. In this region, decreases were registered in the values of total exports to most major destinations, in particular Korea (-14.5%), India (-10.7%), Vietnam (-10.3%), Japan (-10.1%), the mainland of China (the Mainland) (-7.3%) and Malaysia (-4.0%). On the other hand, increases were recorded in the values of total exports to Taiwan (+16.8%) and Singapore (+4.5%).

     Apart from destinations in Asia, decreases were registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (-22.1%), the USA (-21.1%) and Germany (-17.7%).

     Over the same period of comparison, decreases were registered in the values of imports from some major suppliers, in particular Korea (-24.7%), the USA (-23.9%), India (-16.3%), the Mainland (-14.5%), Thailand (-9.5%) and Singapore (-6.1%). Concurrently, increases were recorded in the values of imports from Vietnam (+23.4%) and Malaysia (+3.0%).

     For the first 10 months of 2019 as a whole, year-on-year decreases were registered in the values of total exports to most major destinations, in particular India (-14.8%), the USA (-13.2%), Germany (-7.8%), the Mainland (-6.0%), Japan (-4.5%) and Vietnam (-3.8%). However, year-on-year increases were registered in the values of total exports to Singapore (+5.8%) and Taiwan (+2.0%).

     Over the same period of comparison, year-on-year decreases were registered in the values of imports from most major suppliers, in particular Korea (-25.1%), India (-19.2%), Malaysia (-14.2%), Thailand (-9.9%) and Singapore (-8.5%). The value of imports from the Mainland also decreased by 5.8%. On the other hand, the value of imports from Vietnam increased by 10.3%.

Analysis by major commodity

     Comparing October 2019 with October 2018, decreases were registered in the values of total exports of most principal commodity divisions, in particular "telecommunications and sound recording and reproducing apparatus and equipment" (by $14.0 billion or -16.9%), "miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares)" (by $4.5 billion or -19.6%) and "office machines and automatic data processing machines" (by $3.8 billion or -9.9%). However, an increase was registered in the value of total exports of "power generating machinery and equipment" (by $1.7 billion or 32.8%).

     Over the same period of comparison, decreases were registered in the values of imports of most principal commodity divisions, in particular "telecommunications and sound recording and reproducing apparatus and equipment" (by $17.5 billion or -21.0%), "office machines and automatic data processing machines" (by $8.2 billion or -22.0%) and "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $5.8 billion or -3.8%). However, an increase was registered in the value of imports of "power generating machinery and equipment" (by $2.2 billion or 38.0%).

     For the first 10 months of 2019 as a whole, year-on-year decreases were registered in the values of total exports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $49.6 billion or -3.7%), "office machines and automatic data processing machines" (by $46.7 billion or -12.5%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $27.2 billion or -4.3%). However, a year-on-year increase was registered in the value of total exports of "power generating machinery and equipment" (by $14.3 billion or 30.4%).

     Over the same period of comparison, year-on-year decreases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $101.2 billion or -6.9%), "office machines and automatic data processing machines" (by $57.3 billion or -16.4%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $46.2 billion or -7.6%). However, a year-on-year increase was registered in the value of imports of "power generating machinery and equipment" (by $14.9 billion or 24.3%).

Commentary

     A Government spokesman said that the year-on-year decline in the value of merchandise exports accelerated further in October, buffeted by sluggish global demand and continued US-Mainland trade tensions. Exports to many major markets registered visible declines.

     Looking ahead, Hong Kong's merchandise export performance will likely stay weak in the near term, as soft global economic growth and uncertainties stemming from US trade policies continue to dampen external demand. The Government will continue to monitor the situation closely.

Further information

     Table 1 at the annex presents the analysis of external merchandise trade statistics for October 2019. Table 2 presents the original monthly trade statistics from January 2016 to October 2019, and Table 3 gives the seasonally adjusted series for the same period.

     The values of total exports of goods to 10 main destinations for October 2019 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.

     Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for October 2019.

     All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for October 2019 will be released in mid-December 2019.

     The October 2019 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in October 2019 and will be available in mid-December 2019. Users can download the publication free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp230.jsp).

     Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section (2) of the C&SD (Tel: 2582 5042). 

The following is issued on behalf of the Hong Kong Monetary Authority:

     Exchange Fund Bills tender results:
 

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     Hong Kong Monetary Authority tenders to be held in the week beginning December 2:
 

     The Hong Kong Observatory (HKO) bagged two Winner Awards at the 19th Asia Pacific Information and Communications Technology Alliance (APICTA) Awards with its in-house developed nowcasting system.

     Joined by 250 teams from 15 economies, the 19th APICTA Awards was held from November 19 to 22 in Ha Long, Vietnam. The nowcasting system named SWIRLS (Short-range Warning of Intense Rainstorms in Localized Systems) developed in-house by the HKO won two Winner Awards in entries titled "Public Sector and Government category – Government & Citizen Services" and "Technology category – Artificial Intelligence".

     The HKO's nowcasting system SWIRLS makes use of weather observations from radars, lightning sensors and rain gauges, in combination with information and artificial intelligence technologies, to provide effective forecasts of rainfall and lightning a few hours ahead, supporting the HKO's rainstorm forecasting and warning services. In turn, such services assist members of the public, government departments and public utilities in taking precautionary measures ahead of inclement weather to safeguard public safety and reduce damage. The HKO also shares the source code of SWIRLS with other regions to promote Hong Kong's internationally leading role in respect of nowcasting techniques and applications in weather services.

     SWIRLS also won the Smart Business Grand Award and the Smart Business (Solution for Business and Public Sector Enterprise) Gold Award at the Hong Kong ICT Awards 2019 in April this year.

    

     The Food and Environmental Hygiene Department (FEHD) today (November 26) conducted the balloting for the application for vacant fixed hawker pitches and the ballot results have been released.
      
     A spokesman for the FEHD said, "The FEHD will re-allocate 435 vacant fixed hawker pitches, which were earlier open for application by persons who are interested in the hawking business and able to meet relevant requirements. The application period has ended and a total of 12 788 eligible applications have been received. Ballots were drawn today to determine the pitch selection priority order of eligible applicants.
      
     "The ballot results have been uploaded onto the FEHD website (www.fehd.gov.hk) and will be displayed at the FEHD District Environmental Hygiene Offices and Hawkers and Markets Offices tomorrow (November 27) for viewing by applicants. The FEHD will also issue letters to notify eligible applicants of their priority numbers and later issue letters in batches according to the priority numbers to invite successful applicants for pitch selections and completion of the formalities for issue of new licence."

     For enquiries, please call 2348 6944.

     Special traffic arrangements will be implemented in Happy Valley tomorrow (November 27). The arrangements will come into effect one and a half hours before the start of the first race and will last until the crowds have dispersed after the race meeting.

A. Traffic arrangements before the commencement of the first race

1. Road closure

     Southbound Wong Nai Chung Road between Queen's Road East and the up-ramp outside Hong Kong Jockey Club (HKJC) will be closed except for vehicles heading for Aberdeen Tunnel.

2. Traffic diversions

– Southbound Wong Nai Chung Road between Village Road and the up-ramp outside HKJC will be re-routed one way northbound;
– Traffic along eastbound Queen's Road East heading for Wan Chai and Happy Valley will be diverted to turn left to Morrison Hill Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via Sports Road and Wong Nai Chung Road;
– Traffic along Queen's Road East cannot turn right to Wong Nai Chung Road except for vehicles heading to Aberdeen Tunnel;
– Traffic from Cross Harbour Tunnel heading for Queen's Road East will be diverted via the down-ramp leading from southbound Canal Road flyover to Morrison Hill Road to turn right at the junction of Wong Nai Chung Road and Queen's Road East; and
– Traffic from Cross Harbour Tunnel heading for Happy Valley or Racecourse will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, southbound Morrison Hill Road, Sports Road and Wong Nai Chung Road.

B. Traffic arrangements before the conclusion of race meeting

1. Road closure

     The following roads will be closed from about 35 minutes before the start of the last race:

– The up-ramp on Wong Nai Chung Road outside HKJC leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Queen's Road East and the up-ramp leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Village Road and the Public Stands of HKJC;
– Westbound Leighton Road between Wong Nai Chung Road and Canal Road East; and
– Southbound Morrison Hill Road between Leighton Road and Queen's Road East.
     
     In addition, southbound Wong Nai Chung Road between the up-ramp leading to Aberdeen Tunnel and the Public Stands of HKJC will be closed from about 10 minutes before the start of the last race.

2. Traffic diversions
     
     The following traffic diversions will be implemented from about 35 minutes before the start of the last race:

– Eastbound Queen's Road East at its junction with Morrison Hill Road will be reduced to one-lane traffic heading for northbound Canal Road flyover;
– Traffic from Cross Harbour Tunnel heading for Wan Chai will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, U-turn slip road beneath Canal Road flyover, Canal Road West and Hennessy Road;
– Traffic from Cross Harbour Tunnel heading for Happy Valley will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, eastbound Leighton Road and Wong Nai Chung Road;
– Traffic along southbound Morrison Hill Road will be diverted to turn left to eastbound Leighton Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via eastbound Leighton Road and Wong Nai Chung Road; and
– Traffic along westbound Leighton Road will be diverted to Wong Nai Chung Road.

C. Learner drivers prohibition
     
     Learner drivers will be prohibited to turn left from Caroline Hill Road to Leighton Road between one and a half hours before the start of the first race and one hour after the last race. In addition, learner drivers will be prohibited from accessing the following roads within the above period of time:

– Shan Kwong Road between Yik Yam Street and Wong Nai Chung Road;
– Village Road between its upper and lower junctions with Shan Kwong Road;
– Percival Street between Hennessy Road and Leighton Road;
– Canal Road East; and
– The service road leading from Gloucester Road to Canal Road flyover.

D. Suspension of parking spaces

     Parking spaces on southbound Wong Nai Chung Road between Sports Road and Blue Pool Road will be suspended from 11am to 7pm during day racing, from 4.30pm to 11.59pm during evening racing, and from 5pm to 11.59pm during night racing.

     Any vehicles found illegally parked within the precincts of the above affected areas will be towed away without prior notice.

     Actual implementation of road closure and traffic diversion will be made by the Police at the time depending on traffic conditions in the areas. Motorists should exercise tolerance and patience, and follow the instructions of Police on site.