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Financial News: Hong Kong Trade Deficit Widens In September

Hong Kong Trade Deficit Widens In September

10/26/2017 - 05:36:00 (RTTNews)

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

The visible trade deficit rose to HK$44.7 billion in September from HK$39.7 billion in the corresponding month last year. The deficit increased from HK$35.5 billion in August.

Economists had expected a shortfall of HK$38.5 billion for September.

Exports grew 9.4 percent year-over-year in September, faster than the 5.9 percent rise economists had forecast.

Similarly, imports advanced 9.7 percent in September from last year, much faster than the expected increase of 5.0 percent.

"Looking ahead, the global economic upturn is expected to continue to render support to Hong Kong's exports in the near term," a government spokesman said.

"However, external uncertainties persist, including the uncertain pace of US monetary policy normalisation and possible policy actions by other major central banks."

"Besides, the possible rise in protectionist sentiment, Brexit-related negotiations and elevated geopolitical tensions in various regions are also sources of concern."

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