HK's Trade Values Fall Modestly in May 2002

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Last updated at: (Beijing Time) Friday, June 28, 2002

HK's Trade Values Fall Modestly in May 2002

The values of Hong Kong's total exports and imports of goods both fell modestly in May 2002 over a year earlier, said the Census and Statistics Department Thursday.

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The values of Hong Kong's total exports and imports of goods both fell modestly in May 2002 over a year earlier, said the Census and Statistics Department Thursday.

In May 2002, the value of total exports of goods, comprising re- exports and domestic exports, decreased by 1.8 percent over a year earlier to 125.9 billion HK dollars (16.1 billion U.S. dollars), following a 2.5 percent year-on-year increase in April.

The value of imports of goods decreased by 2.1 percent over a year earlier to 133.3 billion HK dollars (17.1 billion dollars) in May 2002, following a year-on-year decrease of 2.1 percent in April.

For the first five months of 2002 as a whole, the value of total exports of goods decreased by 3.5 percent

Yet comparing the three-month period ending May 2002 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods rose distinctly by 10 percent.

A government secretariat spokesman said exports of goods to the East Asian markets taken together should have continued to grow in May.

But this was more than offset by a relapse in exports to the United States and an enlarged decline in exports to the European Union, he said.

The spokesman further noted that intake of imports for local use fell further in May 2002, signifying continued subdued demand in the local economy.

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