Export growth declines in HK

Hong Kong's export growth unexpectedly slowed in January, the government said yesterday. Overseas sales rose 9.2 percent last month from a year earlier to HK$207.4 billion (US$26.6 billion). That was the smallest increase in three months and lagged the 16.8 percent median estimate of 16 economists surveyed by Bloomberg News. "The January and February numbers are usually volatile because of the Lunar New Year holiday," said Joe Lo, senior economist at Citigroup Inc in Hong Kong. "But the underlying trend of Hong Kong's exports is going to be weaker this year because of faster appreciation of the yuan and the Chinese mainland policy to reduce the trade surplus."

 

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