Hong Kong Trade Deficit Widens In October

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

The visible trade deficit rose to HK$44.0 billion in October from HK$37.2 billion in the corresponding month last year. However, the shortfall was decreased from HK$44.7 billion in September.

Exports climbed 6.7 percent year-over-year in October and imports surged by 7.9 percent.

“Looking ahead, the global economy is expected to show further solid growth in the near term,” a government spokesman said.

“The favourable external environment should continue to render support to our export performance, notwithstanding a higher base of comparison towards the end of last year when the current round of revival in trade flows began to take shape.”

“The Government will continue to monitor closely the developments on the external front, including the increasingly complicated global monetary environment, possible rise in protectionist sentiment and elevated geopolitical tensions in various regions.”
Source: RTT News