Hong Kong Trade Deficit Falls In November

(RTTNews) - Hong Kong's trade deficit decreased in November, amid a fall in exports and imports, data from the Census and Statistics Department showed on Monday.

The trade deficit decreased to HK$ 26.168 billion in November from HK$ 44.964 billion in the same month last year. Economists had expected a HK$ 32.7 billion deficit. In October, the trade deficit was HK$ 30.590 billion.

Exports fell 1.4 percent annually in November after a 9.2 percent slump in the previous month. Economists had expected a 6.2 percent decline.

Imports decreased 5.8 percent in November after an 11.5 percent decline in the previous month. Economists had expected a drop of 8.4 percent.

On a monthly basis, exports and imports rose 3.1 percent and 1.7 percent, respectively, in November.

"The value of merchandise exports recorded a narrower year-on-year decline in November 2019, mainly due to a rebound in exports to the Mainland upon a low base of comparison," a government spokesman said.

"Exports to the major advanced economies stayed weak."
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