Sunlight is reflected from the Central Plaza (top right) office block in the Wanchai district as the sun sets in Hong Kong on June 16, 2020. (ANTHONY WALLACE / AFP)

HONG KONG - The values of Hong Kong's total exports and imports of goods both recorded year-on-year decreases in May, at 7.4 percent and 12.3 percent respectively, the Census and Statistics Department of China's Hong Kong Special Administrative Region (HKSAR) government announced on Monday.

A spokesman for the HKSAR government said that the value of merchandise exports showed a bigger decrease in May, in tandem with subdued regional trade flows amid weak global demand

In May, the value of Hong Kong's total exports decreased to HK$317.6 billion, and the value of imports of goods decreased to HK$331.3 billion.

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A trade deficit of HK$13.7 billion, or 4.1 percent of the value of imports, was recorded for the month.

A spokesman for the HKSAR government said that the value of merchandise exports showed a bigger decrease in May, in tandem with subdued regional trade flows amid weak global demand.

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Exports to Chinese mainland recorded a sharply decelerated growth, while exports to many other major markets continued to decline by varying degrees.

Looking ahead, the continued spread of COVID-19 in various places of the world is still a key threat to the global economy, and Hong Kong's export performance will remain under pressure in the near term, the spokesman added.

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