Due to weak demand and the slowly recovery of China's recovery constitutes a challenge to Hong Kong's economic growth, Hong Kong exports set the longest consecutive decline in August.
According to Bloomberg, the Hong Kong Government Statistics Department said on Tuesday (September 26) that the overall export value of the goods in August fell 3.7%year -on -year to 358.3 billion yuan (Hong Kong dollars, the same below, about 62.728 billion yuan)Essence
This marks the 16th consecutive month of exports of Hong Kong, more than 2015 to 2016, and the continued decline in the surplus period of the Asian financial crisis in the late 1990s.
In August, Hong Kong's imported goods value fell by 0.3%year -on -year, which was better than the expected decrease of economists by 4.5%.The monthly trading deficit was 25.6 billion yuan.
In August, Hong Kong's overall export value to Asia decreased by 3.7%year -on -year.The exports of mainland China decreased by 1.5%, and exports to Japan, South Korea, Malaysia and the Philippines were recorded.The exports of the United States and the European Union have also shrunk.
A spokesman for the Hong Kong Government in the news bulletin released with the data stated: "Looking forward to the future, the external demand of the goods is weak, and the export performance of Hong Kong will continue to be compressed in the short term.">
Bloomberg quoted Wu Zhuoyin, a senior economist of French Foreign Trade Bank, analyzed: "Continuous decline indicates that Hong Kong's foreign trade department continues to face challenges." He added that as the destocking cycle of electronic products slowly ended, this situation should beimprove.
