logo
  

Hong Kong Exports Fall In May

Hong Kong's merchandise exports declined, while imports rose for the second straight month in May, data from the Census and Statistics Department showed on Monday.

Exports fell 1.4 percent year-on-year in May, after a 1.1 percent increase in April.

Imports increased 1.3 percent annually in May, after a 2.1 percent growth in the previous month.

The trade deficit widened to HK$36.675 billion in May from HK$25.464 billion in the same month last year. In April, the deficit was HK$36.582 billion.

"Looking forward, the worsened global economic prospects will continue to weigh on Hong Kong's export performance," a government spokesman said.

On a month-on-month basis, exports and imports declined by 0.2 percent each in May.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Home improvement retailer Lowe's Cos., Inc. reported Wednesday an increase in earnings per share for the second quarter that also topped analysts' estimates. However, quarterly sales edged down and missed expectations. The company also reaffirmed its guidance range for the full-year 2022. While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided financial outlook for the third and the fourth quarters as well as slashed its guidance for the full-year 2023. For the third quarter, the company projects earnings in a range... American Airlines announced an agreement to purchase up to 20 Overture supersonic jets, the world's fastest airliner, from transportation start-up Boom Supersonic, with an option for an additional 40. Overture, which is expected to carry passengers at twice the speed of the fastest commercial aircraft available at present, would provide an important new speed advantage to American's fleet.
Follow RTT