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Financial News: Hong Kong Trade Deficit Widens In March

Hong Kong Trade Deficit Widens In March

04/26/2018 - 08:04:00 (RTTNews)

(RTTNews) - Hong Kong's foreign trade deficit increased in March from a year ago, as imports grew faster than exports, data from the Census and Statistics Department showed Thursday.

The trade deficit rose to HK$55.5 billion in March from HK$42.3 billion in the corresponding month last year. In February, the shortfall was HK$42.7 billion.

Economists had expected a deficit of HK$50.0 billion.

Exports advanced 8.0 percent year-over-year in March, well above the expected increase of 3.1 percent.

Imports registered a double-digit growth of 10.7 percent in March from a year earlier, much faster than the 5.2 percent rise economists had forecast.

"Looking ahead, the prevailing broad-based momentum of the global economy should continue to provide a supportive trading environment for Hong Kong in the near term," a government spokesman, said.

"However, the uncertainties arising from the trade tensions between the US and other major economies have increased."

"The possible spill-overs from US monetary policy normalization and elevated geopolitical tensions in various regions also warrant attention."

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