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Hong Kong Exports Growth Slows In May

Hong Kong's merchandise exports grew at a softer pace in May, data from the Census and Statistics Department showed on Monday.

Exports rose 24.0 percent year-on-year in May, after a 24.4 percent increase in April.

Imports gained 26.5 percent annually in May, following a 25.2 percent increase in the previous month.

The trade deficit widened to HK$25.464 billion in May from HK$13.73 billion in the same month last year. In March, the deficit was HK$31.776 billion.

"Looking ahead, the further revival of demand from major economies should augur well for Hong Kong's export performance in the near term," a government spokesman said.

"Yet, developments of the global pandemic and China-US relations, as well as heightened geopolitical tensions, still warrant attention," spokesman added.

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