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Foreign currency reserves up

Hong Kong's foreign currency reserve assets rose to US$423.2 billion in November from October's US$417.2 billion, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 42% of Hong Kong dollar M3.   There were no unsettled foreign exchange contracts at the end of November. http://dlvr.it/Sf21yd

Mar exports value up 26.4%

The value of Hong Kong’s total exports increased to $409.1 billion in March, up 26.4% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods increased 21.7% to $436.1 billion for the same period.   A trade deficit of $27 billion, or 6.2% of the value of imports, was recorded for the month.   Comparing the first quarter this year with the preceding quarter on a seasonally adjusted basis, the value of exports rose 19.4%, while that of imports increased 13.8%.   The value of exports continued to have strong growth on a year-on-year basis in March on the back of a sharp rebound in global demand. Exports to many major markets, notably the Mainland, registered visible increases, the Government said.   For the first quarter as a whole, total merchandise trade value surpassed the previous first-quarter high in 2018 by 13.2%, it added.
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