HK trade ends two years of declines

Hong Kong's exports by value increased by 8.7 percent last year while imports rose by 6 percent, ending two consecutive years of declines.

In December, exports rose by 5.2 percent, beating expectations, according to the Census and Statistics Department. Exports rose to HK$406.7 billion while imports fell to HK$441.2 billion.

In Asia, exports rose to Vietnam, the Philippines and the mainland, with exports to Vietnam surging by 49 percent year-on-year. But decreases were recorded in exports to India, which dropped by more than 33 percent, and Thailand, which fell by around 16 percent. Apart from Asia, decreases were also registered in December's exports to other major destinations, in particular the UK, down by 28 percent, the Netherlands, and the US, which fell around 15 percent.

STAFF REPORTER