RTTNews - Tuesday, the Hong Kong Census and Statistics Department announced that the trade deficit stood at HK$ 16.4 billion in April, narrowing from HK$ 18.2 billion deficit in March. Economists had expected a deficit of HK$ 11.8 billion.
Exports value declined 18.2% year-on-year to HK$ 199 billion in April, after falling 21.1% in March. Economists were looking for a decline of 24%. At the same time, re-exports declined 17.5% to HK$ 194.4 billion, while domestic exports dropped 40.2% to HK$4.6 billion.
Meanwhile, the value of imports decreased 17% annually to HK$ 215.4 billion in April compared to a 22.7% drop in the preceding month. Economists had expected a decline of 24.6% for April.
For the January to April period, the value of exports and imports declined by 20.9% and 21.2%, respectively. During the period, the trade deficit amounted to HK$ 50.6 billion.
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