Hong Kong Trade Deficit Widens in December


In December of 2013, Hong Kong trade deficit increased to HKD 54.4 billion, as exports were unchanged from a year earlier and imports rose 1.8 percent. For 2013 as a whole, a visible trade deficit of HKD 501.0 billion, equivalent to 12.3 percent of the value of imports of goods was recorded.

In December of 2013, the value of total exports of goods remained virtually unchanged from a year earlier at HKD 310.9 billion, after a year-on-year increase of 5.8 percent in November. The value of imports of goods increased by 1.8 percent over a year earlier to HKD 365.2 billion, after a year-on-year increase of 5.2 percent in November 2013. 
For 2013 as a whole, the value of total exports of goods rose by 3.6 percent over the same period in 2012. Within this total, the value of re-exports increased by 3.8 percent, whereas the value of domestic exports decreased by 7.6 percent. Concurrently, the value of imports of goods increased by 3.8 percent. 

Increases were registered in the values of total exports to some major destinations, in particular Vietnam (+15.5 percent), Korea (+9.0 percent), India (+7.9 percent) and the Mainland (+4.9 percent). However, decreases were registered in the values of total exports to Japan (-6.1 percent), Germany (-5.1 percent) and Taiwan (-4.3 percent). Sales of electrical machinery, apparatus and appliances, and electrical parts thereof rose 8.8 percent, telecommunications and sound recording and reproducing apparatus and equipment went up 11 percent and non-metallic mineral manufactures increased 14.8 percent.

Imports from most major suppliers, in particular the USA (+7.4 percent), Taiwan (+6.9 percent), India (+6.7 percent), Thailand (+6.4 percent) and the Mainland (+5.5 percent). On the other hand, year-on-year decreases were registered in the values of imports from Japan (-8.1 percent) and Switzerland (-1.7 percent).

Hong Kong Trade Deficit Widens in December


Census & Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
1/27/2014 9:17:45 AM