HONG KONG: Hong Kong’s foreign trade deficit widened in October from a year ago, as exports fell and imports rose, the Census and Statistics Department said Thursday.
The trade deficit rose to HK$37.2 billion in October from HK$29.6 billion in the corresponding month last year. That was below the deficit of HK$35.3 billion expected by economists. In September, the shortfall was HK$39.7 billion.
Exports dropped 1.8 percent year-over-year in October, defying economists expectations for an increase of 1.8 percent. At the same time, imports climbed 0.5 percent on year, faster than the expected rise of 2.6 percent.
“Looking ahead, Hong Kong’s export outlook in the near term will still hinge on global demand conditions,” a government spokesman said.
“The external trading environment is still subject to uncertainties, including those associated with the US policy directions after the general election.”
“Moreover, the US monetary policy normalization, monetary policy divergence among major central banks, unfolding Brexit event and heightened geopolitical tensions in various regions are also causes for concern.”
