Value of total exports reached HK$434.1 billion amid a 90-day grace period from April 9 to July 8
Hong Kong’s exports surged 15.5 per cent in May from a year ago, with economists attributing the increase to the front-loading of shipments by businesses racing to beat the July deadline of a tariff truce between China and the United States.
The value of total exports reached HK$434.1 billion (US$55.3 billion) in May, the Census and Statistics Department said on Thursday. The strong performance, which followed a 14.7 per cent increase in April, comes during a 90-day grace period on tariffs running from April 9 to July 8.
Billy Mak Sui-choi, an associate professor in the department of accountancy, economics and finance at Baptist University, said that firms were rushing to ship goods during the “90-day window”.
Looking ahead, Mak said June’s export figures should remain strong, but the outlook for July was highly uncertain.
