MAY EXPORTS VALUE DOWN 15.6%

The value of Hong Kong's total exports decreased to $327.6 billion in May, down 15.6% on the same month last year, the Census & Statistics Department announced today.

The value of goods imports decreased 16.7% to $354 billion for the same period.

A trade deficit of $26.4 billion, or 7.5% of the value of imports, was recorded in May.

Comparing the three-month period ending May with the preceding three months on a seasonally adjusted basis, the value of exports rose 5.3%, while that of imports increased 2.6%.

The Government noted that the value of merchandise exports declined further from a year earlier amid the weak external environment, with exports to all major markets falling by varying degrees.

Looking ahead, it added that the weakness in the advanced economies will continue to pose challenges to Hong Kong's exports, though the faster growth of the Mainland economy should provide some offset.

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