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
Overall consumer prices rose 1.4% in September year-on-year, smaller than the 1.6% growth in August, the Census & Statistics Department announced today.
Netting out the effects of the Government’s one-off relief measures, September’s underlying inflation rate went up 1% compared to a year earlier, also smaller than the 1.2% recorded in August.
Compared with September last year, price increases were seen in electricity, gas and water, clothing and footwear, transport, meals out and takeaway food, durable goods, basic food and miscellaneous services.
On the other hand, year-on-year decreases in miscellaneous goods, housing as well as alcoholic drinks and tobacco were recorded.
The Government noted that the underlying consumer price inflation rate eased to 1% in September as the effect of the upward adjustment in public housing rentals in the same month last year dissipated and the year-on-year increase in prices of meals out and takeaway food narrowed due to the base effect.
Meanwhile, pressures on many other consumer price index components remained modest.
Looking ahead, while overall inflationary pressures will likely increase in the near term alongside the continued economic recovery and rising import prices, the underlying inflation should remain largely moderate in the rest of the year as the local economy is still operating below capacity, it added.
http://dlvr.it/SB5ZCc
http://dlvr.it/SB5ZCc