The value of Hong Kong's total exports and imports dropped 5.3 percent and 7.9 percent respectively in November on the same month last year in the global economic downturn, revealed the Census and Statistics Department on Monday.

The value of exports was 231.2 billion HK dollars (US$30 billion) while imports value was 239.3 billion HK dollars (US$31 billion).

The value of re-exports fell 4.1 percent to 224.3 billion HK dollars (US$29 billion) while the value of domestic exports fell 31.5 percent to 6.9 billion HK dollars (US$891 million).

A visible trade deficit of 8.2 billion HK dollars (US$1.06 billion) was recorded in November. That was equivalent to 3.4 percent of the value of goods imports.

The department said the performance of merchandise exports worsened in November, against the background of the recession in the advanced economies and the deteriorating economic conditions in Asia and the emerging markets.

As the synchronized global economic downturn is beginning to take its toll on world trade, the near-term outlook for Hong Kong's exports is bound to be negatively affected, the department said.

(Xinhua News Agency December 30, 2008)