HK's November exports fall 0.8pc after 14pc rise in October

Hong Kong's November exports fell 0.8 per cent year on after posting a 14 per cent increase in October, marking the first decline since January 2017, reported the Census and Statistics Department.

 

Decreases in exports came in non-metallic mineral manufactures, electrical machinery, appliances and parts, textile yarn, fabrics and related products.

 

Meanwhile imports grew 0.5 per cent, pushing the trade deficit to HK$45 billion (US$5.8 billion).

 

Exports to China are more than half the total, and these fell five per cent, while shipments to the US and Japan, which are the second and third largest destinations, increased. 

 

Taiwan also posted disappointing trade data in November with an unexpected contraction in export orders, the worst result since the middle of 2016, reported Bloomberg.

 

Source:HKSG Group

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