Hong Kong Export Decline Widens In January

Hong Kong exports fell 36.7 percent year-on-year in January, with the government partly blaming a weak external environment.

The figures, released on Monday, marked a ninth straight month of decline and outpaced the 28.9 decrease in December.

Exports to Japan halved, while exports to Singapore plunged around 45 percent.

Imports also slipped in the same month – down 30.2 percent from a year ago.

A government spokesman attributed the decline to a slackened external environment and the early arrival of the Lunar New Year.

"While the slower global economic growth will continue to pose severe challenges to Hong Kong's export performance in the near term, the expected faster growth of the mainland economy and the lifting of cross-boundary truck movement restrictions between Hong Kong and the mainland should alleviate part of the pressure," the spokesman said in a statement.