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Financial News: Hong Kong Exports Fall In May

Hong Kong Exports Fall In May

06/27/2022 - 05:41:00 (RTTNews)

(RTTNews) - Hong Kong's merchandise exports declined, while imports rose for the second straight month in May, data from the Census and Statistics Department showed on Monday.

Exports fell 1.4 percent year-on-year in May, after a 1.1 percent increase in April.

Imports increased 1.3 percent annually in May, after a 2.1 percent growth in the previous month.

The trade deficit widened to HK$36.675 billion in May from HK$25.464 billion in the same month last year. In April, the deficit was HK$36.582 billion.

"Looking forward, the worsened global economic prospects will continue to weigh on Hong Kong's export performance," a government spokesman said.

On a month-on-month basis, exports and imports declined by 0.2 percent each in May.

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