Hong Kong's merchandise trade deficit increased from last year in June, data released by The Census and Statistics Department showed Tuesday.
The trade deficit increased to HK$44.705 billion in June from HK$40.261 billion in the same month last year. Economists were looking for a shortfall of HK$39.5 billion.
Export of goods decreased 4.8 percent year-on-year to HK$278.228 billion in June. The value of re-exports decreased by 4.7 percent annually, while domestic exports fell by 10.3 percent. Compared to May, overall shipments were lower by 5.5 percent during the month.
The value of imports declined by 2.9 percent annually to HK$322.932 billion during the month. Month-on-month, arrivals decreased 2.2 percent in June.
In the first half of 2012, the value of total exports of goods edged up 0.3 percent compared to the same period last year, while imports increased by 1.4 percent, data showed.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org