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.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT