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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

Algernon Yau to visit Cambodia

Secretary for Commerce & Economic Development Algernon Yau will depart Hong Kong tomorrow for Cambodia to attend an Association of Southeast Asian Nations (ASEAN) Economic Ministers meeting scheduled for September 17.   At the Sixth ASEAN Economic Ministers - Hong Kong, China Consultation meeting, Mr Yau and participating economic ministers of ASEAN member states (AMS) will discuss the progress of the free trade agreement’s implementation.   There will also be discussions on the related investment agreement between ASEAN and Hong Kong.   On the meeting’s sidelines, Mr Yau will hold bilateral meetings with various AMS economic ministers to exchange views on regional co-operation and issues of mutual interest.   The commerce chief will also attend a luncheon to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region and visit Hong Kong enterprises in Cambodia.        Mr Yau will return to Hong Kong on the evening of September 18. During his absence, Under Secretary for Commerce & Economic Development Bernard Chan will be Acting Secretary.
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