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Financial News: Hong Kong Trade Deficit Widens In April

Hong Kong Trade Deficit Widens In April

05/28/2018 - 05:54:00 (RTTNews)

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

The trade deficit rose to HK$46.9 billion in April from HK$34.1 billion in the corresponding month last year. However, the shortfall decreased from HK$55.5 billion in March.

Both exports and imports advanced by 8.1 percent and 11.1 percent, respectively in April from last year.

"Looking ahead, the prevailing momentum of the global economy is likely to continue and should be conducive to Hong Kong's export performance in the near term," a government spokesman said.

"However, the external environment is still subject to uncertainties, including those associated with the rise in trade protectionism, pace of US monetary normalization and geopolitical tensions."

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