HK Export Growth Misses Forecast

Hong Kong’s exports grew more slowly than expected last year, at just 3.6%, but economists see brighter times ahead.

The growth, which lagged economists’ forecast of a rise of 4 to 5%, underscored a weak economic revovery in the United States and disappointing demand in Europe in the wake of the 2008 global financial crisis, they said.

However, some economists expected better prospects this year on the back of recent strength in the US recovery while Europe’s turmoil hit its bottom.

Hong Kong exports were flat at HK$310.9 billion last month after a year-on-year jump of 5.8% in November, the government said.

For the full year, exports rose 3.6% while imports were up 3.8%, leaving a trade deficit of HK$501 billion.

~ SCMP, January 28, 2014 ~

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