Surprise export drop in June

Trade deficit stands at HK$49.7 billion.

Hong Kong's exports fell unexpectedly in June on weak demand from Asia, said the Census and Statistics Department.

The value of Hong Kong's total exports declined 0.2% in June to HK$277.6 billion year-on-year. This followed a 1% fall in May and was contrary to expectations of a 2.4% improvement.

Compared with June 2012, exports to Asia as a whole inched downward by 0.1%. Decreases were registered in exports to Taiwan, the Philippines, India, Japan and China. Shipments to some of the other major destinations, including the UK, Germany and the US, also fell.

Hong Kong imported goods worth HK$327.3 billion in June, 1.4% higher than a year earlier. The trade balance showed a deficit of HK$49.7 billion.