Hong Kong's export growth slowed more-than-expected in November, figures from the Census and Statistics Department showed Monday.
Exports rose only 0.4 percent year-on-year in November, much slower than October's 2.7 percent growth. Economists had forecast a 2.3 percent rise for the month. The rate of growth has been slowing since July.
Imports also rose at a slower pace in November, climbing 2.4 percent annually, after a 5.6 percent growth in the previous month. It was also below economists' expectations for a 4.1 percent rise.
The visible trade deficit widened to HK$52.2 billion in November from HK$44.6 billion in the same month last year. Economists had forecast the deficit to increase to HK$52.0 billion. In October, the shortfall was HK$49.84 billion.
«Looking ahead, the slow global economic growth will continue to constrain Hong Kong's near-term export performance,» a government spokesman said.
«The uncertainties arising from the monetary policy divergence among major central banks, geopolitical tensions in various regions and repercussions from the sharp drop in international oil prices also warrant concern. The Government will monitor the situation closely.»
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