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Hong Kong's exports continued to decline in April, and at a faster pace, data from the Census and Statistics Department showed on Monday.
Exports of goods plunged 13.0 percent year-over-year in April, much faster than the 1.5 percent decline in March.
Nonetheless, that was below the 21.6 percent decline economists had expected. Exports have been falling since May 2002.
Data showed that exports to the Mainland, the United States, and the European Union all shrank in April.
Similarly, imports registered an annual fall of 11.9 percent after a slight 0.6 percent drop in March. The expected decline was 16.5 percent.
Month-on-month, exports and imports were down 7.9 percent and 8.1 percent, respectively.
Consequently, a visible trade deficit of HK$36.6 billion was registered in April, smaller than the HK$40.6 billion shortfall seen in March.
In the corresponding month last year, the deficit was HK$36.6 billion.
During the first four months of this year, exports of goods decreased 16.5 percent over the same period last year, and imports slid by 12.5 percent. The visible trade balance showed a deficit of HK$148.4 billion, equivalent to 10.4 percent of the value of goods imported.
"Looking ahead, the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the Mainland economy should provide some relief," a government spokesperson said.
