Sunday, May 27, 2007

Hong Kong Export Growth May Accelerate on China Trade

Hong Kong's exports probably grew at a faster pace in April as the city shipped more goods to and from China. Overseas sales rose 8.7 percent from a year earlier, after gaining 6.9 percent in March. The government will release trade figures at 4:15 p.m. today. Surging Chinese exports and growing demand for foreign goods in the mainland boosted shipments through Hong Kong. The city, located at the mouth of the Pearl River, serves as a trading hub for China, the world's fastest-growing major economy.

In addition, a slowing U.S. economy may curb demand for goods shipped through Hong Kong. Gross domestic product in the world's largest economy grew 1.3 percent in the first quarter, the smallest increase in four years. The U.S. was the second- biggest buyer of Hong Kong's exports last year after China. Hong Kong's imports probably grew 11.3 percent in April from a year earlier.

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