Hong Kong's exports decreased at a slower pace in May, figures from the Census and Statistics Department showed Monday.
The value of total exports of goods and services edged down 0.1 percent year-over-year in May, much slower than the 2.3 percent drop in April. Exports have been falling since May 2015.
The value of domestic exports plunged 18.0 percent annually in May, while re-exports rose by 0.2 percent.
Imports fell 4.3 percent in May from a year ago, following a 4.5 percent decline in the preceding month.
The visible trade surplus narrowed to HK$26.2 billion in May from HK$40.1 billion in the corresponding month last year. It was also below April's shortfall of HK$31.0 billion.
"Looking ahead, Hong Kong's export performance will still depend on the global demand conditions, particularly whether the major advanced economies will gather growth momentum," a government spokesman said.
"External uncertainties have increased following UK's vote in favor of leaving the EU, which could have negative spillovers on the global economy and international financial markets."
"Besides, the monetary policy normalisation in the US, diverging monetary policy stances among major central banks, and geopolitical tensions are also causes for concern. The Government will monitor the situation closely."
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