Hong Kong’s merchandise exports dropped in October after rising in the previous month, data from the Census and Statistics Department showed on Tuesday.
Exports fell 1.1 percent year-on-year in October, after a 9.1 percent decrease in September.
Imports rose 0.6 percent annually in October, after a 3.4 percent increase in the previous month.
The trade deficit widened to HK$36.756 billion in October from HK$30.590 billion in the same month last year. In September, the deficit was HK$12.694 billion.
For the January to October period, exports decreased 2.9 percent year- on-year and imports fell 5.6 percent. The trade deficit was HK$329.975 billion.
The value of merchandise exports decreased slightly in October from a year ago, as exports to the Mainland and the US switched to mild declines, the government spokesman said.
“Looking ahead, while the Mainland [economy][1] is expected to post further strong growth, the deterioration of COVID-19 situation in a number of advanced economies will likely slow their recoveries and may hinder the revival of Hong Kong’s exports,” spokesman said.
“The development of China-US relations, geopolitical tensions and the Brexit negotiations also warrant attention,” spokesman added.
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