FEB EXPORTS VALUE DOWN 0.8%

26-3-2024

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The value of Hong Kong’s total exports decreased to $284.1 billion in February, down 0.8% on the same month last year, the Census & Statistics Department announced today.

The value of imports of goods fell 1.8% to $325.7 billion for the same period.

A trade deficit of $41.7 billion, or 12.8% of the value of imports, was recorded in February.

Comparing the three-month period ending February with the preceding three months on a seasonally adjusted basis, the value of exports rose 5.5%, while that of imports also increased 3.3%.

The Government noted that taking the first two months of the year together to remove the volatility caused by the difference in timing of the Lunar New Year, the value of exports posted a 16.6% growth against a very low base of comparison a year ago.

Exports to the Mainland and the US rose notably, while those to the European Union fell. Those to other major Asian markets recorded a mixed performance.

Looking ahead, the Government expects slow global economic growth and geopolitical tensions will continue to constrain Hong Kong’s export performance in the near term, adding that global monetary conditions are expected to ease later in the year and provide some support.




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