BUSINESS Hong Kong's trade drop narrows in November


Hong Kong's trade drop narrows in November


18:10, December 30, 2019

HONG KONG, Dec. 30 (Xinhua) - Hong Kong's exports and imports continued to drop last month but in a much slower pace, official data showed on Monday.


(File photo: VCG)

The value of Hong Kong's goods exports inched down 1.4 percent year-on-year in November, narrowing from a 9.2-percent drop in October, according to the Census and Statistics Department of the government of China's Hong Kong Special Administrative Region.

The value of goods imports declined 5.8 percent year-on-year in November, also improving from an 11.5-percent drop in October.

A government spokesman said that the narrower year-on-year decline was mainly due to a rebound in exports to the Chinese mainland upon a low base of comparison.

Hong Kong's exports to the mainland, accounting for more than half of the total, rose 5.2 percent year-on-year in November. Exports to Asian economies combined were up 2.6 percent.

However, exports to major advanced economies stayed weak. As global economic growth has yet to improve and the external environment is still subject to various uncertainties, the government will continue to monitor the situation closely, the spokesman said. 

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