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Financial News: Hong Kong Trade Deficit Narrows In September

Hong Kong Trade Deficit Narrows In September

10/24/2019 - 07:24:00 (RTTNews)

(RTTNews) - Hong Kong trade deficit in September decreased from a year ago, amid falls in exports and imports, data from the Census and Statistics Department showed on Thursday.

The trade deficit fell to HK$ 31.63 billion in September from HK$ 47.71 billion in the same month last year. Economists had expected a deficit of HK$ 35.0 billion.

In August, trade deficit was HK$28.04 billion.

Exports declined 7.3 percent annually in September. Economists had expected a fall of 7.0 percent.

Imports fell 10.3 percent year-on-year in September. Economists had forecast a 11.3 percent decline.

On a monthly basis, exports and imports fell 1.4 percent and 0.4 percent, respectively, in September.

For the July to September period, trade deficit was HK$ 92.54 billion compared to HK$ 147.96 billion in the same period last year. Exports and imports declined 6.4 percent and 10.1 percent, respectively.

"Looking ahead, as the strains on global trade flows arising from a slowing global economy and various uncertainties, including the development of US-Mainland trade relations, will likely persist for some time, the near-term outlook for Hong Kong's merchandise exports remains challenging," a government spokesman said.

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