Hong Kong Exports, Imports Continue To Fall In July

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Hong Kong's exports dropped 19.9% year-on-year in July to HK$212.3 billion, sharper than a 5.4% fall in the preceding month. Economists expected a 12% fall. This is the ninth consecutive month of decline in exports.

Domestic exports plunged 41.3%, while re-exports slipped 19.2%. Meanwhile, imports dipped 17.8% on a yearly basis to HK$233.9 billion, steeper than a 7.9% fall in the previous month. Economists expected a 15% decline. Imports also fell for the ninth consecutive month in July.

The trade deficit stood at HK$21.6 billion in July, widening from a deficit of HK$16.5 billion in June and HK$19.5 billion in the same month last year. Economists expected a deficit of HK$13.4 billion.

(Market News Provided by RTTNews)