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

Exports rose 26.4 percent year-on-year in March, after a 30.4 percent increase in February.

Imports gained 21.7 percent annually in March, following a 17.6 percent increase in the previous month.

The trade deficit widened to HK$26.967 billion in March from HK$34.707 billion in the same month last year. In February, the deficit was HK$14.699 billion.

“The global economic recovery led by the Mainland and the US should continue to support Hong Kong’s export performance in the period ahead,” a government spokesman said.

“However, the pandemic development and other risk factors such as China-US relations and geopolitical tensions warrant attention,” spokesman added.

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

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