Hong Kong Trade Gap Narrows 30% in December

Hong Kong trade deficit decreased by 29.6 percent to HKD 45.7 billion in December of 2015 from a HKD 59.2 billion deficit a year earlier, as exports fell at a slower pace than imports. Considering full 2015, the trade gap decreased 19.2 percent to HKD 441.1 billion as sales declined 1.8 percent and imports shrank 4.1 percent.
Census and Statistics Department | Mojdeh Kazemi | mojdeh@tradingeconomics.com 1/26/2016 10:29:45 AM
Year-on-year, exports went down by 1.1 percent  to HKD 309.2 billion from HKD 312.7 billion. Exports to Asia went down by 0.1 percent, as sales to Malaysia (-9.9 percent), Korea (-9.1 percent), Taiwan (-8.7 percent), Thailand (-8.1 percent), Singapore (-5.3 percent) and Japan (-0.7 percent) fell the most and shipments to China decreased by 0.9 percent. On the other hand, exports rose to Indonesia (+15.8 percent) and India (+8.5 percent) while those to the United Kingdom (-3.8 percent), the USA (-0.7 percent) and Germany (-0.4 percent) dropped.

Imports declined by 4.6 percent to HKD 354.9 billion from HKD 372.0 billion in December last year, driven by lower purchases from Switzerland (-17.9 percent), Japan (-13.1 percent), the USA (-11.8 percent), India (-11.7 percent), Taiwan (-9.5 percent), South Korea (-7.2 percent) and China (-1.0 percent).

Considering full 2015, decreases were registered in sales to some major destinations, in particular Taiwan (-18.0 percent), Korea (-12.8 percent), Japan (-6.6 percent), Germany (-3.2 percent), Singapore (-2.3 percent) and China (-2.1 percent) while increases were recorded for Vietnam (+14.7 percent), India (+8.1 percent) and the United Kingdom (+0.8 percent). Among products sales fell for office machines and automatic data processing machines (-5.2 percent); articles of apparel and clothing accessories (-10.2 percent) and miscellaneous manufactured articles mainly jewellery, goldsmiths' and silversmiths' wares (-5.7 percent). However, an increase was registered in shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (+3.5 percent).

 Imports from all major suppliers fell, in particular from Switzerland (-22.1 percent), India (-13.7 percent), Japan (-9.9 percent), Taiwan (-8.6 percent) and Malaysia (-7.9 percent) and China (-0.1 percent). Purchases decreased mostly for miscellaneous manufactured articles mainly jewellery, goldsmiths' and silversmiths' wares (-11.0 percent); petroleum products and related materials (-29.1 percent) and office machines and automatic data processing machines (-7.2 percent). However, a year-on-year increase was registered in imports of telecommunications and sound recording and reproducing apparatus and equipment (+7.4 percent).

Hong Kong Trade Gap Narrows 30% in December