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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

Commerce chief headed to Detroit

Secretary for Commerce & Economic Development Algernon Yau will depart for the US city of Detroit tomorrow to attend the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting to be held from May 25-26.   Mr Yau will join discussion sessions on the multilateral trading system, fostering sustainable and inclusive trade in the region and other issues.   He will also meet ministers of other APEC member economies to exchange views on regional co-operation and issues of mutual interest.   Mr Yau will return to Hong Kong on May 28. During his absence, Under Secretary for Commerce & Economic Development Bernard Chan will be Acting Secretary.
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