HK total port cargo rose 26.8% in Q4


Total port cargo throughput in Hong Kong increased 26.8% in the fourth quarter of last year to 71 million tonnes compared to the same period in 2015, according to the Census & Statistics Department.

Of this total, inward cargo increased 26.3% to 42.2 million tonnes, while outward cargo rose 27.5% to 28.7 million tonnes.

For the whole of 2016, total cargo volume increased 0.1% year-on-year to 256.7 million tonnes. Of this total, inward cargo decreased 1.3% to 150.8 million tonnes, while outgoing cargo increased 2.1% to 106 million tonnes.

In the fourth quarter, the port handled 5.48 million TEUs of containers, up 17.7% year-on-year.

Of this, laden containers increased 19.6% to 4.72 million TEUs, while empty containers grew 7.4% to 760,000.

The number of ocean vessel arrivals dropped 2.9% to 6,819 in the quarter, with the total capacity increasing 4.5% to 105.6 million net registered tonnes.

Exports value dips 1.2%

Meanwhile, the value of the territory’s total goods exports dropped 1.2% year-on-year in January, while that of goods imports decreased 2.7%, the agency said.

The value of goods exports totaled HKD296.3 billion (US$38.2 billion). Within this total, the value of re-exports decreased 1.1% to $293.1 billion, while the value of domestic exports dropped 5.3% to $3.2 billion.

The value of goods imports decreased 2.7% to HKD308.6 billion.

A visible trade deficit of HKD12.3 billion, equivalent to 4% of the value of goods imports, was recorded in January.

Comparing the three-month period ending in January with the preceding three months on a seasonally adjusted basis, the value of total goods exports increased 5.2%. Of this total, the value of re-exports increased 5.2%, while that of domestic exports went down 1.2%. The value of goods imports increased 3.6%.

The department said that although the value of exports decreased slightly year-on-year in January, the month’s trade figures were distorted by the difference in the timing of the Lunar New Year, which fell in late January this year but early February last year.

Despite the recent improvement in global economic conditions, the external trading environment is still subject to uncertainties caused by events like the U.S. interest rate normalization, future U.S. trade policy direction, and the unfolding Brexit situation, the agency said.

Photo: Baycrest