FX.co ★ Hong Kong Exports Fall In May

Hong Kong's merchandise exports declined, while imports rose for the second straight month in May, data from the Census and Statistics Department showed on Monday.

Exports fell 1.4 percent year-on-year in May, after a 1.1 percent increase in April.

Imports increased 1.3 percent annually in May, after a 2.1 percent growth in the previous month.

The trade deficit widened to HK$36.675 billion in May from HK$25.464 billion in the same month last year. In April, the deficit was HK$36.582 billion.

"Looking forward, the worsened global economic prospects will continue to weigh on Hong Kong's export performance," a government spokesman said.

On a month-on-month basis, exports and imports declined by 0.2 percent each in May.