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Hong Kong exports down 14.5 pct
Hong Kong (AFP) June 25, 2009 Hong Kong exports plunged 14.5 percent year-on-year in May, but the rate of decline eased from April, showing some signs of recovery, government figures showed Thursday. The total value of exports fell to 204.4 billion Hong Kong dollars (26.2 billion US), the Census and Statistics Department said in a statement. Hong Kong's exports had plunged 18.2 percent year-on-year in April. For the first five months of the year, the value of exports dropped 19.5 percent compared to 2008 as the global slowdown hit southern China's manufacturing heartland, which ships many of its products through Hong Kong. The value of imports into Hong Kong decreased by 19.2 percent in May compared to the previous year, the figures showed. Within the region, the sharpest drops were in exports to South Korea, Malaysia and Singapore, while the value of goods sent to Germany fell 21.9 percent and to the United States 15.7 percent. A government spokesman noted that exports showed a relative improvement in May for the second straight month, but added the environment for exporters would remain "challenging" in the next few months. Share This Article With Planet Earth
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