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Hong Kong Trade Gap Narrows In April

Hong Kong’s trade deficit narrowed in April as exports and imports fell, data from the Census and Statistics Department showed on Monday.

The trade deficit fell to HK$35.091 billion in April from HK$46.946 billion in the same month last year. In March, the deficit was HK$59.241 billion. Economists had expected a deficit of HK$ 48.3 billion.

Exports fell 2.6 percent year-on-year in April after a 1.2 percent decline in March. Economists had expected a fall of 0.8 percent.

Imports dropped 5.5 percent in April, following a 0.1 percent fall in the previous month. Economists had expected a decline of 0.5 percent.

On a month-on-month basis, exports decreased 6.4 percent and imports dropped 11.5 percent.

In the first quarter, the trade deficit shrunk to HK$143.694 billion from HK$144.865 billion. Exports fell 3.3 percent year-on-year and imports decreased 2.9 percent.

The material has been provided by InstaForex Company – www.instaforex.com