Hong Kong's exports declined for the second straight month in June at a faster-than-expected pace, figures from the Census and Statistics Department showed Monday.
Exports slid 3.1 percent year-over-year in June, exceeding economists' expectations for a 2.6 percent decrease. In May, exports had fallen 4.6 percent.
The value of domestic exports plunged 13.4 percent in June from a year ago and re-exports went down by 3.0 percent.
Imports dropped at a slower pace of 2.0 percent annually in June, following a 4.7 percent decline in the prior month. The expected rate of decline was 3.4 percent.
The trade deficit for June widened to HK$45.8 billion from HK$43.1 billion in the same month of the previous year. Economists had expected a shortfall of HK$39.1 billion. In May, the deficit was HK$40.11 billion.
During the first six months of the year, total exports rose 0.1 percent yearly, while imports decreased by 1.0 percent. The visible trade deficit narrowed to HK$2.42 billion from HK$2.63 billion last year.
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