Free Trial

MNI BRIEF: Hong Kong Exports Down 8.8% In February

MNI (BEIJING)
MNI (BEIJING)

Hong Kong's exports fell 8.8% y/y in February, a sharp improvement from the 36.7% decline in January, according to the Census and Statistics Department on Monday (C&SD).

Taking January and February together, to account for Lunar New Year changing months between 2022 and 2023, exports decreased 25.4% y/y and imports decreased 18.9% y/y. In February most major regions recorded declines in demand, particularly Japan (down 23.1%), India (lower by 18.5%), and the Mainland (down 12.7%).

Depressed growth in advanced economies is expected to dampen exports in the near term. However, the forecast recovery in the Mainland economy later in the year should help support demand, the government said. Hong Kong’s base interest rate was increased 25bp to 5.25% last week. (See MNI BRIEF: HKMA Lifts Base Rate After Fed Hike)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.