The Census and Statistics Department (C&SD) released today (April 25) the external merchandise trade statistics for March 2024. In March 2024, the values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 4.7% and 5.3% respectively.
 
     In March 2024, the value of total exports of goods increased by 4.7% over a year earlier to $384.5 billion, after a year-on-year decrease by 0.8% in February 2024. Concurrently, the value of imports of goods increased by 5.3% over a year earlier to $429.5 billion in March 2024, after a year-on-year decrease by 1.8% in February 2024. A visible trade deficit of $45.0 billion, equivalent to 10.5% of the value of imports of goods, was recorded in March 2024.
 
     For the first quarter of 2024 as a whole, the value of total exports of goods increased by 11.9% over the same period in 2023. Concurrently, the value of imports of goods increased by 8.0%. A visible trade deficit of $83.6 billion, equivalent to 7.3% of the value of imports of goods, was recorded in the first quarter of 2024.
 
     Comparing the first quarter of 2024 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods increased by 5.7%. Meanwhile, the value of imports of goods increased by 3.1%.
 
Analysis by country/territory
 
     Comparing March 2024 with March 2023, total exports to Asia as a whole grew by 8.1%. In this region, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+41.6%), Thailand (+20.6%), Malaysia (+18.6%) and the mainland of China (the Mainland) (+12.1%). On the other hand, decreases were recorded in the values of total exports to Taiwan (-22.3%) and India (-17.9%).
 
     Apart from destinations in Asia, decreases were registered in the values of total exports to most major destinations in other regions, in particular the United Kingdom (-31.5%), Germany (-15.5%) and the USA (-5.4%).
 
     Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular Korea (+67.5%), Vietnam (+53.0%), Thailand (+25.2%), Singapore (+13.6%) and the Mainland (+4.1%). On the other hand, decreases were recorded in the values of imports from India (-14.6%) and Taiwan (-5.9%).
 
     For the first quarter of 2024 as a whole, year-on-year increases were registered in the values of total exports to some major destinations, in particular Thailand (+38.8%), the United Arab Emirates (+20.8%), the Mainland (+20.2%), Vietnam (+17.7%) and India (+12.9%). On the other hand, a decrease was recorded in the value of total exports to the Netherlands (-27.8%).
 
     Over the same period of comparison, year-on-year increases were registered in the values of imports from some major suppliers, in particular Korea (+58.4%), Vietnam (+37.9%), Thailand (+19.6%), Singapore (+15.3%), the USA (+13.9%) and the Mainland (+9.8%). On the other hand, a decrease was recorded in the value of imports from India (-11.6%).
 
Analysis by major commodity
 
     Comparing March 2024 with March 2023, increases were registered in the values of total exports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $8.7 billion or +4.8%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $5.7 billion or +14.2%).
 
     Over the same period of comparison, increases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $10.6 billion or +5.8%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $7.5 billion or +18.3%).
 
     For the first quarter of 2024 as a whole, year-on-year increases were registered in the values of total exports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $60.9 billion or +13.7%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $19.5 billion or +16.9%).
 
     Over the same period of comparison, year-on-year increases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $44.3 billion or +9.9%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $16.6 billion or +14.2%).
 
Commentary
 
     A Government spokesman said that the value of merchandise exports continued to grow in March 2024 over a year earlier.  Exports to the Mainland rose further, while those to the United States and the European Union fell. Those to other major Asian markets showed mixed performance.
 
     Looking ahead, geopolitical tensions and a longer period of tight financial conditions will continue to affect Hong Kong's export performance, though the slightly better-than-expected external demand may provide some support. The Government will monitor the situation closely.
 
Further information
 
     Table 1 presents the analysis of external merchandise trade statistics for March 2024. Table 2 presents the original monthly trade statistics from January 2021 to March 2024, and Table 3 gives the seasonally adjusted series for the same period.
 
     The values of total exports of goods to 10 main destinations for March 2024 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 March 2024.
 
     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 March 2024 will be released in mid-May 2024.
 
     The March 2024 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in March 2024 and will be available in early May 2024. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230).
 
     Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).
 

     Hong Kong Customs yesterday (April 24) conducted a special operation in Mong Kok to combat the sale of counterfeit goods and seized about 4 900 items of suspected counterfeit goods with an estimated market value of about $2.1 million.
      
     Customs earlier conducted patrols and discovered some fixed-pitch hawker stalls selling suspected counterfeit goods in Mong Kok. After investigations, Customs officers took enforcement action yesterday and raided 17 fixed-pitch hawker stalls on Tung Choi Street and a nearby storage site for counterfeit goods upstairs. A batch of suspected counterfeit goods, including handbags, leather goods, accessories, was seized.
      
     During the operation, two women, aged 37 and 45, were arrested.
      
     An investigation is ongoing.
      
     With the Labour Day Golden Week of the Mainland approaching, Customs will continue to step up inspection and enforcement to vigorously combat different kinds of counterfeit goods activities before and during the holidays in order to safeguard consumer rights at full strength.
      
     Customs reminds consumers to procure goods at reputable shops and to check with the trademark owners or their authorised agents if the authenticity of a product is in doubt. Traders should be cautious and prudent in merchandising since the sale of counterfeit goods is a serious crime and offenders are liable to criminal sanctions.
      
     Under the Trade Descriptions Ordinance, any person who sells or possesses for sale any goods with a forged trademark commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.

     Members of the public may report any suspected counterfeiting activities to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

  

     The Government announced today (April 25) that Mr Kevin Choi, Private Secretary to the Chief Executive, will take up the post of Permanent Secretary, Chief Executive's Office on May 14, 2024, when Mr Daniel Cheng Chung-wai commences his pre-retirement leave on the same day.
 
     Commenting on the appointment of Mr Choi, the Secretary for the Civil Service, Mrs Ingrid Yeung, said, "Mr Choi is a seasoned Administrative Officer with proven leadership and management skills. I have every confidence that he will shoulder the heavy responsibilities with professionalism in his new capacity."
 
     On the retirement of Mr Cheng who will proceed on pre-retirement leave, Mrs Yeung said, "Mr Cheng has rendered 35 years of loyal and dedicated service. During his tenure as Permanent Secretary, Chief Executive's Office, Mr Cheng provided wise counsel for the Chief Executive in the preparation for his first two Policy Addresses and other key policymaking processes. He also played an instrumental role in ensuring the smooth and effective operation of the Chief Executive's Office with his extensive experience in public administration, governance and protocol matters over the years. I wish him a fulfilling and happy retirement."
 
     Brief biographical notes of the two officers are set out below:
 
Mr Daniel Cheng Chung-wai
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     Mr Cheng joined the Administrative Service in July 1989 and rose to the rank of Administrative Officer Staff Grade A in April 2022. He has served in various bureaux and departments, including the former Finance Branch, the former City and New Territories Administration, the former Health and Welfare Branch, the former Trade and Industry Branch, the Office of the Government of the Hong Kong Special Administrative Region in Beijing, the former Planning and Lands Bureau (later reorganised as Housing, Planning and Lands Bureau), the former Commerce, Industry and Technology Bureau, the former Education and Manpower Bureau (later renamed as Education Bureau), the Constitutional and Mainland Affairs Bureau, and the former Food and Health Bureau. He was Director of Administration from July 2020 to May 2022, Secretary-General, Office of the Chief Executive-elect from May 2022 to June 2022, and has been serving as Permanent Secretary, Chief Executive's Office since July 1, 2022.
 
Mr Kevin Choi
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     Mr Choi joined the Administrative Service in October 1997 and rose to the rank of Administrative Officer Staff Grade B1 in April 2022. He has served in various bureaux and departments, including the former Planning, Environment and Lands Bureau (later renamed as Planning and Lands Bureau), the Food and Environmental Hygiene Department, the former Commerce, Industry and Technology Bureau (later reorganised as Commerce and Economic Development Bureau), the Chief Executive's Office, the Development Bureau, and the Civil Aviation Department. He served as Deputy Secretary in the former Transport and Housing Bureau from September 2017 to December 2020, Deputy Secretary in the former Food and Health Bureau (later reorganised as Health Bureau) from December 2020 to February 2023, and has been serving as Private Secretary to the Chief Executive since February 2023.

    

     The Buildings Department approved 14 building plans in February, with five on Hong Kong Island, four in Kowloon and five in the New Territories.

     Of the approved plans, nine were for apartment and apartment/commercial developments, two were for commercial developments, and three were for community services developments.

     In the same month, consent was given for works to start on 14 building projects which, when completed, will provide 118 570 square metres of gross floor area for domestic use involving 2 755 units, and 137 906 sq m of gross floor area for non-domestic use. The department has received notification of commencement of superstructure works for four building projects.

     The department also issued 15 occupation permits, with four on Hong Kong Island, four in Kowloon and seven in the New Territories.

     Of the buildings certified for occupation, the gross floor area for domestic use was 34 731 sq m involving 1 756 units, and 120 810 sq m was for non-domestic use.

     The declared cost of new buildings completed in February totalled about $4.7 billion.

     In addition, six demolition consents involving six building structures were issued.

     The department received 2 062 reports about unauthorised building works (UBWs) in February and issued 553 removal orders on UBWs.

     The full version of the Monthly Digest for February can be viewed on the Buildings Department's homepage (www.bd.gov.hk).

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     Here is an item of interest to swimmers.

     The Leisure and Cultural Services Department announced today (April 25) that Tai Kok Tsui Swimming Pool in Yau Tsim Mong District, closed earlier on due to a power failure, has been reopened.