MNI BRIEF: Hong Kong Exports Down 11.4% Y/Y In June

Hong Kong exports fell 11.4% in June y/y, the fourteenth month of consecutive y/y declines, according to data released by the Census and Statistics Department on Tuesday.

Exporters saw declines from most major regions, with Germany, USA and Mainland dropping 29.0%, 22.1% and 13.1% respectively. Electrical parts and machinery fell 10.6%. East Asian export-led economies such as Hong Kong and South Korea face challenges in H2 given a continued slowdown in global demand for electronic components and slower than expected rebound from mainland China, a South Korean trade expert recently told MNI. (SEE: MNI INTERVIEW: S.Korea H2 Export Outlook Hit By Slowing China - Bonds & Currency News | Market News)

Hong Kong’s economy has shown recent improvements but exports have remained down as the external economic environment has stayed weak, according to the governments’ most recent economic summary.