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Feb exports value down 0.8%

The value of Hong Kong’s total exports decreased to $284.1 billion in February, down 0.8% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods fell 1.8% to $325.7 billion for the same period.   A trade deficit of $41.7 billion, or 12.8% of the value of imports, was recorded in February.   Comparing the three-month period ending February with the preceding three months on a seasonally adjusted basis, the value of exports rose 5.5%, while that of imports also increased 3.3%.   The Government noted that taking the first two months of the year together to remove the volatility caused by the difference in timing of the Lunar New Year, the value of exports posted a 16.6% growth against a very low base of comparison a year ago.   Exports to the Mainland and the US rose notably, while those to the European Union fell. Those to other major Asian markets recorded a mixed performance.   Looking ahead, the Gove

Travel bubble safeguards in place

The travel bubble arrangement between Hong Kong and Singapore includes additional safeguards, but both sides will continue to monitor the COVID-19 epidemic situation, Secretary for Commerce & Economic Development Edward Yau said today.   After attending an event, Mr Yau told reporters Hong Kong was currently enjoying a relatively stable and low-risk situation.   “We have seen the number of cases, particularly those unlinked local cases, come down to a very low level. We hope this will be maintained.   “At the same time, we are also seeing Singapore, despite some cases, by and large staying within the range that we have agreed upon for the suspension or resumption.   “So, at the moment, we are keeping an eye on this development and will see how things go.”   Mr Yau assured travellers that both places have strengthened their safeguards and would be on the alert for any changes in the epidemic situation.   “The most recent agreement has additional built-in safeguards, including an additional three-day observation on the daily number of unlinked local cases at a lower level, and the requirement to stay in the respective cities for 14 days before embarking on the travel bubble without counting the quarantine requirement for those passengers coming from a third place.   “All these are the measures that we have put in place. Of course we will stay very alert. If circumstances get worse, we will see whether there is a need to adjust them; if things are going smoothly, stably and safely, I think it is everybody's wish to have the scheme proceed as planned to be launched on May 26.”
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