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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

Extra allowance disbursement starts

The Government today announced that recipients of social security payments and Working Family Allowance (WFA) will receive a one-off extra allowance from today.   As proposed in the 2022-23 Budget, the one-off extra allowance is equal to a half-month of the standard rate of Comprehensive Social Security Assistance payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance.   Recipients who were eligible for social security payments on May 4 and those whose approved WFA applications were made between November 1, 2021 and May 4 will be eligible for the one-off extra allowance.   It is estimated that about 1.48 million social security recipients and 72,000 WFA households will benefit from the arrangements, involving a total of over $2.5 billion.   The payment will be credited to the designated Hong Kong bank accounts of the eligible households and recipients and no separate application is necessary.   Recipients of social security payments may call 2343 2255 or contact the respective Social Security Field Unit for enquiries.   As for enquiries on the WFA Scheme, call 2558 3000 or visit its website.
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