Hong Kong Trade Deficit Widens In November

Hong Kong’s foreign trade gap widened in November from a year ago, as imports grew faster than exports, data from the Census and Statistics Department showed Thursday.

The visible trade deficit rose to HK$39.7 billion in November from HK$34.05 billion in the corresponding month last year. However, the shortfall was declined from HK$43.96 billion in October.

Both exports and imports climbed by 7.8 percent and 8.6 percent, respectively in November from a year earlier.

“Looking ahead, the global economic upturn should continue to render support to Hong Kong’s exports in the near term,” a government spokesman said.

“Yet, there remain uncertainties in the external environment, including the pace of US monetary policy normalization, possible rise in protectionist sentiment and elevated geopolitical tensions in various regions.”

“The Government will continue to monitor the developments closely.”
Source: RTT News