Hong Kong October Trade Deficit Decreases

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Hong Kong recorded a trade deficit of HK$19.2 billion in October, smaller than a HK$29.1 billion deficit in September, the latest report from the Census and Statistics Department showed Thursday.

Total exports fell 13.1% on a yearly basis in November to HK$240.7 billion, faster than a 8.6% fall in the previous month. Economists expected a 13% fall. Domestic exports fell 32.9%, while re-exports were down 12.5%. Imports dropped 10.7% to HK$259.9 billion, sharper than a 3.1% decline in the previous month. Economists expected a 9% decrease. Both imports and exports have fallen continuously since November last year.

In the first ten months of the year, exports fell 15.8% year-on-year, while imports declined 15.2%. The trade deficit stood at HK$169.2 billion, narrowing from a HK$181.5 billion deficit in the same period last year.

(Market News Provided by RTTNews)