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This has been driven in part by large increases in imports of non-native foods to the UK, such as pineapples, melons and avocados.
The simultaneously sharp increase in demand for imported capital goods (and for raw materials and replacement parts as well) resulted in unexpectedly large increases in imports.
But that gain is likely to be offset by increases in imports as commodity prices stay robust and inflation in Asia raises manufacturing costs.
The Port Authority, which operates the region's major seaport on what were once marshy lands in the two cities, is planning for rapid increases in imports as the region's demand for consumer goods grows and manufacturing increasingly shifts to Asia.
Since Hong Kong's own data has not been showing large increases in imports from China so far this year, the Chinese government has already opened an investigation into whether exporters are overinvoicing for shipments.
But this week, China allied itself with Indian negotiators in insisting on safeguard rules for agriculture, and sought to require that developing countries be allowed to impose prohibitively high tariffs on food imports from affluent countries to halt increases in imports that might put farmers in poor countries out of business.
Similar(41)
Increases in imported Indonesian coal prices have made the massive Tata Mundra and Adani Mundra power projects in the Indian state of Gujarat uneconomical, leading to plant shutdowns.
Unless wages can be depressed further, inflation will eventually rise significantly due to the combined effect of an increase in the money supply and a depreciation of the euro, with resulting increases in import prices – especially of oil and gas.
Cuts in carbon emissions by developed countries since 1990 have been cancelled out many times over by increases in imported goods from developing countries such as China, according to the most comprehensive global figures ever compiled.
The largest percentage increases in import penetration were in Coke and Petroleum, Publishing and Printing, and Garments.
The suppliers are battered by cost pressures from the automakers, increases in imported parts and higher commodity prices.
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