Trade
Hong Kong Exports Fall as Global Demand Slump Weighs on Economy
- A 15.6% drop in exports was worse than expected by economists
- Rate hikes from major trade partners have hampered demand
Hong Kong’s exports have struggled over the past year.
Photographer: Bertha Wang/BloombergThis article is for subscribers only.
Hong Kong’s exports fell in May for a 13th consecutive month as weak demand for goods from China and the world continue to pose challenges for the financial hub’s economic outlook.
Overseas shipments dropped 15.6% from a year earlier, the Census and Statistics Department said Tuesday. That was worse than a median estimate for an 11.1% decrease in a Bloomberg survey of economists.