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Financial News: Hong Kong Trade Gap Narrows In February

Hong Kong Trade Gap Narrows In February

03/27/2018 - 06:33:00 (RTTNews)

(RTTNews) - Hong Kong's foreign trade gap decreased notably in February from a year ago, as exports rose and imports fell, data from the Census and Statistics Department showed Tuesday.

The visible trade deficit narrowed to HK$42.7 billion in February from HK$56.2 billion in the corresponding month last year.

However, the shortfall increased from HK$31.9 billion in January. Economists had expected a deficit of HK$40.0 billion.

Exports climbed 1.7 percent year-over-year in January, while imports decreased by 3.2 percent.

"Looking ahead, while the sustained expansion of the global economy remains supportive to Hong Kong's exports, uncertainties in the external trading environment have increased visibly in recent weeks due to rising trade tensions between the US and other major economies," a government spokesman said.

"If trade conflicts worsen further, the growth of world trade will be curtailed with adverse repercussions on global demand conditions and Hong Kong's trade outlook."

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