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Financial News: Hong Kong Trade Deficit Narrows In August

Hong Kong Trade Deficit Narrows In August

09/26/2019 - 07:08:00 (RTTNews)

(RTTNews) - Hong Kong's trade deficit narrowed in August with imports falling more than exports, data from the Census and Statistics Department showed on Thursday.

The trade deficit decreased to HK$28.0 billion in August from HK$52.1 billion in the same period last year. Economists had expected a deficit of HK$56.1 billion.

In July, trade deficit was HK$32.1 billion.

Exports fell 6.3 percent annually in August. Economists had expected a 7.3 percent decline.

Imports decreased 11.1 percent in August. Economists had expected a 10.9 percent fall.

On a monthly basis, exports and imports rose 4.2 percent and 2.7 percent, respectively, in August.

For the June to August period, the trade deficit fell to HK$ 116.2 billion from HK$ 153.8 billion in the same period last year. Exports and imports decreased 7.0 percent and 9.2 percent, respectively.

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