Hong Kong’s merchandise exports grew at a softer pace in February, data from the Census and Statistics Department showed on Thursday.

Exports rose 30.4 percent year-on-year in February, after a 44.0 percent increase in January.

Imports gained 17.6 percent annually in February, following a 37.7 percent increase in the previous month.

The trade deficit widened to HK$14.699 billion in February from HK$38.551 billion in the same month last year. In January, the deficit was HK$25.228 billion.

“Taking the first two months of 2021 together to remove the distortion caused by the difference in timing of the Lunar New Year, the value of merchandise exports increased sharply by 37.6 percent over a year earlier, reflecting a further pick-up in growth momentum alongside the revival of global trading and production activities,” a government spokesman said.

The material has been provided by InstaForex Company – www.instaforex.com

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