Hong Kong's exports increased at a faster-than-expected pace in April, figures from the Census and Statistics Department showed Thursday.
Exports climbed 2.2 percent year-over-year in April, reversing a 1.8 percent decline in the previous month. Economists had expected a 1.7 percent growth for the month.
Domestic exports plunged 13.7 percent, while re-exports grew by 2.5 percent.
Meanwhile, imports decreased 2.9 percent annually in April, much faster than economists' expectations for a 0.2 percent slight fall, following a 2.7 percent drop in March. It was the third month decline a row.
The visible trade deficit for April narrowed to HKD 39.2 billion from HKD 55.3 billion in the same month of the previous year. Economists had expected a shortfall of HKD 47.6 billion. In March, the deficit was HKD 46.2 billion.
"Exports to the US fared better, but those to the EU stayed subdued and Asian markets as a whole grew only mildly, reflecting the uneven recovery in the advanced economies and their spillover onto the Asian economies," a government spokesman said.
"looking ahead, Hong Kong's external trade performance is likely to remain constrained by the unsteady external environment. Uncertainties stemming from the diverging monetary policy among major central banks, the Greek debt problem, and geopolitical tensions in various regions will also add to the external headwinds. The Government will monitor the situation closely."
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