Hong Kong Visible Trade Deficit Widens In September

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Tuesday, the Census and Statistics Department said in a report that Hong Kong's visible trade deficit increased to HK$ 29.1 billion in September from HK$ 21.85 billion in the prior month. The shortfall was also larger than the HK$ 16.02 billion deficit seen in the same period of the prior year.

The value of total exports of goods slipped 8.6% on a yearly basis in September after falling 13.9% in August. Concurrently, the value of imports of goods dropped at a slower pace of 3.1% over a year earlier to HK$ 255 billion. In August, imports were down 9.8%. Economists had expected an annual fall of 10% in exports and 9.5% in imports.

For the first nine months of 2009, exports of goods fell 16.2% and imports declined 15.7%. A visible trade deficit of HK$150.3 billion, equivalent to 7.8% of the value of imports of goods, was recorded in the first nine months of 2009.

Tuesday, the Census and Statistics Department said in a report that Hong Kong's visible trade deficit increased to HK$ 29.1 billion in September from HK$ 21.85 billion in the prior month. (Market News Provided by RTTNews)