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Apr exports value down 13%

The value of Hong Kong's total exports decreased to $338.3 billion in April, down 13% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods decreased 11.9% to $374.9 billion for the same period.   A trade deficit of $36.6 billion, or 9.8% of the value of imports, was recorded in April.   Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports rose 15.4%, while that of imports increased 10.7%.   The Government noted that the value of merchandise exports declined further from a year earlier in April. Exports to the Mainland, the US and the European Union all shrank and exports to other major Asian markets recorded decreases of varying degrees.   Looking ahead, it added that the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the Mainland economy should

Artificial island study set

The Government today awarded a consultancy agreement for the study on the artificial islands in the Central Waters to Ove Arup & Partners Hong Kong with a contract value of about $220 million.   The Civil Engineering & Development Department said the agreement mainly comprises a detailed planning and engineering study for the 1,000-hectare artificial islands around Kau Yi Chau.   There will also be a feasibility study on the priority road link and the priority rail link connecting the artificial islands.   The study is scheduled to start tomorrow for completion within 42 months.   The artificial islands in the Central Waters is one of the initiatives to increase land supply under the Lantau Tomorrow Vision announced by the Chief Executive in her 2018 Policy Address.   The drive aims to alleviate the acute shortage of land in the medium-to-long run, and to meet Hong Kong’s long-term housing, social and economic development needs.
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