Thursday, Hong Kong's Census and Statistics Department announced that the trade deficit stood at HK$ 23.2 billion in February, in contrast to the HK$ 7.2 billion surplus in the previous month. Economists had predicted a deficit of HK$ 4.5 billion.

On an annual basis, the value of total exports declined 23% to HK$ 141.9 billion in February, after falling 21.8% in January.

At the same time, imports value dropped 17.5% to HK$ 165.1 billion, compared with a 27.1% fall in the previous month.

In the January to February period, total trade deficit totaled HK$ 16.1 billion. During this period, annual exports and imports value dropped by 22.4% and 22.8%, respectively.

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