Hong Kong Trade Gap Narrows 52.8% in January


Hong Kong trade deficit decreased by 52.8 percent to HKD 17.5 billion in January of 2016 from a HKD 37 billion deficit a year earlier, as imports fell 9.0 percent while exports declined at a slower 3.8 percent.

Year-on-year, exports went down by 3.8 percent to HKD 299.9 billion from HKD 311.9 billion. Total exports to Asia as a whole went down by 6.1 percent, as exports to South Korea (-14.5 percent), Taiwan (-8.4 percent), the mainland of China (-7.9 percnet), Thailand (-4.4 percent) and Malaysia (-3.8 percent) fell the most. On the other hand, exports rose to India (+13.2 percent), the Philippines (+6.0 percent). Apart from destinations in Asia, decreases were also registered to the USA (-1.1 percent) and Germany (-1.0 percebt) while increase was registered to the United Kingdom (+0.1 percent).

Exports of office machines and automatic data processing machines (-19.2 percent); miscellaneous manufactured articles, mainly jewellery, goldsmiths' and silversmiths' wares (-8.6 percent) and articles of apparel and clothing accessories (-7.8 percent) fell. However, an increase was registered in the value of total exports of telecommunications and sound recording and reproducing apparatus and equipment (+4.3 percent). 

Imports declined faster by 9.0 percent to HKD 317.4 billion from HKD 350 billion in January last year, driven by lower purchases from Singapore (-20.7 percent), Japan (-20.2 percent), Malaysia (-11.4 percent), Switzerland (-8.7 percent) and South Korea (-8.4 percent). The value of imports from the Mainland also decreased by 6.9 percent.

Imports of telecommunications and sound recording and reproducing apparatus and equipment (-11.3 percent); office machines and automatic data processing machines (-16.3 percent) and electrical machinery, apparatus and appliances, and electrical parts thereof (-3.7 percent) decreased. 

Hong Kong Trade Gap Narrows 52.8% in January


Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
2/25/2016 9:14:25 AM