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Financial News: Hong Kong Dec Exports Spike More Than Expected

Hong Kong Dec Exports Spike More Than Expected

01/26/2017 - 04:29:00 (RTTNews)

(RTTNews) - Hong Kong's exports grew for the second straight month in December, and at a faster-than-expected pace, figures from the Census and Statistics Department showed Thursday.

The value of exports surged 10.1 percent year-over-year in December, exceeding economists' expectations for an increase of 5.9 percent. That was also above the 8.1 percent hike in the preceding month.

Within this total, the value of re-exports advanced 10.2 percent, while domestic exports decreased by 2.9 percent.

Imports also rose at an accelerated pace of 8.7 percent annually in December, following a 7.6 percent gain in the preceding month. Economists had forecast a 5.9 percent climb for the month.

The visible trade deficit narrowed slightly to HK$45.5 billion in December from HK$45.7 billion in the corresponding month last year. The expected shortfall for the month was HK$45.0 billion.

The trade deficit for the whole year 2016 was HK$420.1 billion versus HK$468.6 billion in 2015.

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