25.05.201705:57:00UTC+00Hong Kong Trade Deficit Widens In April

Hong Kong's foreign trade deficit increased in April from a year ago, as imports grew faster than exports, figures from the Census and Statistics Department showed Thursday.

The trade deficit rose to HK$34.1 billion in April from HK$31.02 billion in the corresponding month last year. However, it was lower than the shortfall of HK$42.3 billion in March.

Economists had expected a deficit of HK$39.2 billion for April.

Exports climbed 7.1 percent year-over-year in April, well below the 12.5 percent spike expected by economists.

Similarly, import grew 7.3 percent in April from a year ago, much slower than the 13.5 percent surge economists had forecast.

"Looking ahead, the gradual improvement in global economic conditions should continue to support Hong Kong's export performance," a government spokesman said.

"However, the external environment is still subject to various uncertainties, especially those stemming from the US interest rate normalisation, Brexit and other policy and political developments in the US and Europe, possible rise of protectionist sentiment and elevated geopolitical tensions in various regions."

"The Government will continue to monitor the situation closely."