Both Exports And Imports Return To Growth

Hong Kong posted strong trade figures for September, snapping long losing streaks for both imports and exports as the mainland led growth in demand for goods from the city.

Government figures released on Tuesday showed exports in September jumped 9.1 percent year on year following six months of contraction. Imports, meanwhile, reversed from 21 months of decline, rising 3.4 percent from a year ago.

Exports to the mainland surged 17 percent last month, and the government said it expects a "solid recovery" of the mainland economy to support the local export sector in the near term.

The export of non-ferrous metals more than doubled, while there was double-digit growth in electrical machinery, apparatus and appliances, and electrical parts, as well as telecommunications and sound recording nd reproducing apparatus and equipment.

Exports to the United States returned to growth and exports to the European Union saw a smaller drop, contributing to the strong overall performance.

The government said it's monitoring a resurgence in coronavirus cases overseas, as well as geopolitical tensions and trade negotiations between the EU and the United Kingdom.