HK export weakness persists

Local | 25 May 2020 5:21 pm

Hong Kong's external trade continues to be in the doldrums as a result of the global economic downturn and the coronavirus pandemic.

Exports and imports of goods fell by 3.7 percent and 6.7 percent respectively in April, the Census and Statistics Department, said.

Exports dropped by 3.7 percent from a year earlier to HK$309.5 billion, after a year-on-year drop of 5.8 percent in March 2020.

Imports fell by 6.7 percent from the year before to HK$332.8 billion in April 2020, after a year-on-year drop of 11.1 percent in March 2020.

Exports to the US and the EU continued to record double-digit falls due to the coronavirus pandemic.

Shipments to the US tumbled by 24.6 percent, Germany (-19.6 percent) and the United Kingdom (-6.9 percent) in April.

There was a trade deficit of HK$23.3 billion.
For the first four months, exports fell by 8.1 percent on-year, while imports dropped by 9.1 percent on-year. The trade deficit was HK$127.3 billion.

 

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