HONG KONG - A visible trade deficit of HK$25.1 billion was recorded in May, with the values of total exports and imports of goods both showing significant year-on-year increases at 24.4 percent and 29.7 percent, Hong Kong's Census and Statistics Department said Thursday.
Vibrant regional trade in Asia and the prevailing global recovery should continue to provide support to Hong Kong's external trade performance, said the department. However, the adverse effect on global trade flows from a possibly slower recovery in Europe due to the sovereign debt problem may begin to emerge in the latter part of the year.
For the first five months of the year, the value of total exports of goods rose 24.7 percent over the same period last year, while the value of imports increased 32.1 percent. A visible trade deficit of HK$148.6 billion, equivalent to 11.6 percent of the value of imports of goods, was recorded.
