Hong Kong’s exports declined for a second straight month in February, while imports increased strongly, leading to a larger trade deficit than a year ago, data from the Census and Statistics Department revealed Tuesday
Exports fell 1.3% year-on-year, after decreasing 0.4% in the previous month; the latest decline was the biggest since February last year, when exports tumbled 16.8%. Imports grew 6.8%, erasing a 2.7% decline logged in January.
Month-on-month, exports shrank 29.8% and imports declined 17.6%.
The trade flows in January and February of each year tend to show considerable volatilities due to difference in timing of the Lunar New Year holidays, the agency said.