Hong Kong Transhipments Growing 12% Annually

by Mary Swire, Tax-News.com, Hong Kong

24 August 2006

Hong Kong's port transhipment cargo recorded an average annual growth rate of 12% from 2000 to 2005, the government has announced.

The August issue of the Census & Statistics Department's Monthly Digest of Statistics revealed that transhipment of goods accounted for 47% of the city's port cargo throughput last year.

Port transhipment cargo movements between Hong Kong and the Mainland accounted for 44%, of which 74% was between Hong Kong and the Pearl River Delta region.

Meanwhile, comparing the first half of 2006 with the same period in 2005 shows that the volume of Hong Kong's re-exports of goods rose by 9.0%, and domestic exports grew significantly, by 32.4%. Taken together, the volume of total exports of goods grew by 10.2%. Concurrently, the volume of imports of goods increased by 10.1%.

In June 2006, the re-export volume of raw materials and semi-manufactures increased by 15.6% over June 2005. Marked increases in re-export volume were noted for chemical elements and compounds and base metal other than iron and steel. On the other hand, decreases in re-export volume were recorded for iron and steel and paper and paperboard.

The re-export volume of capital goods increased by 6.8% in June 2006 over June 2005. Significant increases in re-export volume were noted for construction machinery and transport equipment. However, a decrease in re-export volume was recorded for office machinery.

In June 2006, the volume of re-exports of consumer goods decreased by 4.1% over June 2005. Substantial decreases in re-export volume were recorded for passenger motor cars and cameras, flashlight apparatus and supplies for photography. Meanwhile, increases in re-export volume were recorded for alcoholic beverages and jewellery, precious stones and related articles.

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