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Financial News: Hong Kong Exports Grow In September

Hong Kong Exports Grow In September

10/27/2020 - 06:41:00 (RTTNews)

(RTTNews) - Hong Kong's merchandise exports grew for the first time in seven months in September, data from the Census and Statistics Department showed on Tuesday.

Exports rose 9.1 percent year-on-year in September, after a 2.3 percent decrease in August.

Imports rose 3.4 percent annually in September, after a 5.7 percent fall in the previous month.

The trade deficit narrowed to HK$12.694 billion in September from HK$31.639 billion in the same month last year. In August, the deficit was HK$14.626 billion.

For the January to September period, exports decreased 4.0 percent year-on-year and imports fell 6.8 percent. The trade deficit was HK$232.876 billion.

The merchandise exports turned to a notable annual increase in September, mainly led by the visible acceleration in exports to the Mainland, the government spokesman said.

"Exports to the US reverted to moderate growth and those to the EU saw a much narrowed decline in September, thanks to the economic recovery in these markets," spokesman said.

"Yet, in some advanced markets the resurgence of COVID-19 infections has cast uncertainty over their near-term outlook," spokesman added.

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