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Financial News: Hong Kong Visible Trade Gap Widens In November

Hong Kong Visible Trade Gap Widens In November

12/27/2018 - 05:35:00 (RTTNews)

(RTTNews) - Hong Kong's visible trade deficit widened in November from the previous year, figures from the Census and Statistics Department showed Thursday.

The visible trade deficit increased to HK$44.96 billion from HK$39.71 billion in the previous year.

The value of total exports of goods dropped 0.8 percent year-on-year, reversing a 14.6 percent increase in the previous month. Meanwhile, the value of imports advanced 0.5 percent, following a 13.1 percent surge in October.

In the three-month period ended November, exports dropped 1.4 percent and imports fell 3.6 percent.

A government spokesman said that despite the recent cooling of the US-Mainland trade tensions following the agreement reached in early December, the situation is still fluid and may add to the downside risks.

The Government will continue to monitor the situation closely, he added.

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