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Hong Kong Jan. Trade Deficit Narrows Sharply

Friday, 24 February 2012 | 00:00
Hong Kong's trade deficit narrowed sharply in January from the prior month, the Census and Statistics Department said Thursday.
The visible trade deficit fell to HK$8.9 billion from HK$48.9 billion in December. Economists were expecting the shortfall to ease to HK$29.9 billion.
Exports declined 8.6 percent in January from a year ago, reversing a 7.4 percent rise in December. The rate of decrease was larger than the 7 percent fall expected by economists.
At the same time, imports fell 10.5 percent year-on-year, offsetting last month's 8.1 percent growth. Economists had expected only 4.5 percent fall for January.
Source: RTT News
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