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HKs outward processing exports to mainland down 10%
Hong Kong"s total exports to the Chinese mainland for outward processing dropped 10 percent year on year to 425.2 billion HK dollars (54.8 billion U.S. dollars) in 2009, the HK authority said on Thursday.The Census & Statistics Department said the value of domestic exports to the mainland for outward processing fell 45 percent to 7.3 billion HK dollars (0.94 billion U.S. dollars) whereas that of re-exports to the mainland for outward processing dropped 9 percent to 417.9 billion HK dollars (53.85 billion U.S. dollars).During the year, the value of imports from the mainland related to outward processing dropped 21 percent to 623.2 billion HK dollars (80.3 billion U.S. dollars), while 641.8 billion HK dollars (82.7 billion U.S. dollars) of Hong Kong"s re-exports originally from the mainland were produced through outward processing on the mainland, down 19 percent compared the previous year.Last year 34 percent of Hong Kong"s total exports to the mainland were for outward processing. The figure was 27 percent for domestic exports and 34 percent for re-exports.Among Hong Kong"s imports from the mainland, 50 percent were for outward processing. 68 percent of HK"s re-exports originally from the mainland were produced through outward processing on the mainland.