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Hong Kong exports down 3.5% in Nov.

Hong Kong exports down 3.5% in Nov.

HONG KONG: The values of Hong Kong’s total exports of goods fell 3.5 percent year-on-year to 315.3 billion HK dollars (about 40.5 billion U.S. dollars) in November, 2015, the Census and Statistics Department said.
Within this total, the value of re-exports decreased 3.2 percent to 311.6 billion HK dollars last month, while the value of domestic exports lost 21.6 percent to 3.7 billion HK dollars, according to the data.
Concurrently, the value of imports of goods went down 8.1 percent over a year earlier to 348.4 billion HK dollars, and a visible trade deficit of 33.1 billion HK dollars was recorded in November.
A government spokesman said merchandise exports continued to fall in November, in tandem with the subdued export performance of many Asian economies amid the slack in global demand.
The spokesman said looking ahead, the sluggish external demand amid the slow global economic growth will continue to constrain Hong Kong’s export performance in the near term.
Moreover, the uncertainties arising from monetary policy normalization in the United States, diverging monetary policy among major central banks and heightened geopolitical tensions in various regions could add further headwinds, the spokesman added.