Hong Kong’s exports and imports of goods both decreased year-over-year in February, Hong Kong’s Census and Statistics Department reported.
In February, the value of total exports of goods fell by 16.9 percent from February 2012 to HK$215.7 billion (about US$27.8 billion), following a year-over-year increase of 17.6 percent in January 2013. The value of imports of goods dropped by 18.3 percent compared with the same month in the previous year to $32.2 billion. The trade deficit in February was $4.4 billion, equivalent to 13.6 percent of the value of imports of goods.
Considering January and February together to minimize the distortion caused by the difference in timing of the Chinese New Year holiday each year, the value of total exports of goods rose by 0.3 percent compared with the same period in 2012, and the value of imports of goods increased by 1.4 percent. A trade deficit of $7.9 billion, equivalent to 10.5 percent of the value of imports of goods, was recorded in the first two months of 2013.