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Financial News: Hong Kong Trade Gap Widens In June

Hong Kong Trade Gap Widens In June

07/26/2018 - 06:15:00 (RTTNews)

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

The trade deficit rose to HK$54.1 billion in June from HK$48.3 billion in the corresponding month last year. The shortfall also widened from HK$43.2 billion in May.

The expected deficit for the month was HK$52.0 billion.

Exports climbed 3.3 percent year-over-year in June, well below the 7.9 percent increase economists had forecast.

Imports advanced 4.4 percent annually in June versus the expected spike of 8.2 percent.

"Looking ahead, while growth momentum of the global economy has been sustained so far this year, rising trade conflicts between the US and other major economies could weigh on global economic sentiment and trade expansion going forward, posing downside risks to Hong Kong's export outlook," a government spokesman said.

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