Hong Kong's merchandise trade deficit narrowed more than economists expected in May, data released the Census and Statistics Department showed Tuesday.
The trade deficit decreased to HK$35.566 billion in May from HK$42.873 billion in April. Economists were looking for a deficit of HK$38.1 billion.
Export of goods increased 5.2 percent annually to HK$294.506 billion in May. Economists expected the value of shipments to grow just 0.5 percent. Sequentially, shipments advanced 10.6 percent during the month.
Imports moved up 4.6 year-on-year to HK$330.072 billion during the month. Economists were looking for a 1.8 percent rise. Compared to April, arrivals were higher by 6.8 percent.
In the three months ended May, the trade balance was a deficit of HK$122.299 billion. Year-on-year, exports and imports increased 1.2 percent and 1.5 percent respectively during the period, data showed.
by RTT Staff Writer
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