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Financial News: Hong Kong Exports Expand In November

Hong Kong Exports Expand In November

12/28/2020 - 06:14:00 (RTTNews)

(RTTNews) - Hong Kong's merchandise exports grew in November after falling in the previous month, data from the Census and Statistics Department showed on Monday.

Exports rose 5.6 percent year-on-year in November, after a 1.1 percent decrease in October.

Imports gained 5.1 percent annually in November, following a 0.6 percent increase in the previous month.

The trade deficit widened to HK$25.609 billion in November from HK$26.168 billion in the same month last year. In October, the deficit was HK$36.756 billion.

For the January to November period, exports decreased 2.8 percent year-on-year and imports fell 5.0 percent. The trade deficit was HK$296.603 billion.

"Looking ahead, while the continued strengthening of the Mainland economy should render support to Hong Kong's exports, the sharp deterioration of epidemic situations in many advanced economies of late may slow the pace of global economic recovery in the coming months and constrain Hong Kong's export performance," the government spokesman said.

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