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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

Algernon Yau to visit Cambodia

Secretary for Commerce & Economic Development Algernon Yau will depart Hong Kong tomorrow for Cambodia to attend an Association of Southeast Asian Nations (ASEAN) Economic Ministers meeting scheduled for September 17.   At the Sixth ASEAN Economic Ministers - Hong Kong, China Consultation meeting, Mr Yau and participating economic ministers of ASEAN member states (AMS) will discuss the progress of the free trade agreement’s implementation.   There will also be discussions on the related investment agreement between ASEAN and Hong Kong.   On the meeting’s sidelines, Mr Yau will hold bilateral meetings with various AMS economic ministers to exchange views on regional co-operation and issues of mutual interest.   The commerce chief will also attend a luncheon to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region and visit Hong Kong enterprises in Cambodia.        Mr Yau will return to Hong Kong on the evening of September 18. During his absence, Under Secretary for Commerce & Economic Development Bernard Chan will be Acting Secretary.
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