Bloomberg News

Hong Kong Exports Exceed Economist Forecasts on Holiday Timing

March 27, 2012

Hong Kong’s exports exceeded analysts’ estimates in February as trade figures for the first two months of the year were distorted by the timing of a Lunar New Year holiday.

Overseas shipments rose 14 percent from a year earlier to HK$259.8 billion ($33 billion), the government said on its website today. That compared with an 8.6 percent decline in January and the median estimate for a 4.9 percent gain in a Bloomberg News survey of economists.

Export growth for January and February combined was weak and marked a deceleration from the pace in the final quarter of last year, the government said in a statement. Imports rose 20.8 percent in February, leaving a trade deficit of HK$45.8 billion.

To contact the reporter on this story: Paul Panckhurst in Beijing at ppanckhurst@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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