Hong Kong: Exports drop further

It’s not just the Chinese New Year Hong Kong’s exports fell 6.9% year-on-year in February after falling 0.4%YoY in January. The decline looks bad compared to a month ago but in fact, it is even more severe than it looks when we consider the base effect.  The value of exports was HK$228.67 billion in February 2019, lower than HK$245.74 billion in the same month last year. We can’t just blame the Chinese New Year for this result. Trade tensions and…