In March of 2014, exports increased by 3.4 percent over a year earlier to HKD 301.5 billion. Imports amounted to HKD 351.9 billion, increasing 3.2 percent from March of 2013.
Comparing with March of 2013, exports to Asia grew by 0.2 percent, in particular to Taiwan (+17.3 percent), India (+15.6 percent), the Philippines (+13.4 percent), Thailand (+10.4 percent), Vietnam (+8.8 percent). Higher shipments were also recorded to Germany (+13.9 percent), the United Kingdom (+13.6 percent) and the USA (+11.1 percent). On the other hand, lower sales were recorded to Malaysia (-19.3 percent), Korea (-2.7 percent) and China (-2.3 percent).
Over the same period of comparison, increases were registered in purchases from Thailand (+15.7 percent), Taiwan (+12.0 percent), Singapore (+11.9 percent), Malaysia (+9.7 percent) and Japan (+7.9 percent). Imports from China remained unchanged.
Higher exports were recorded for non-metallic mineral manufactures (+28.2 percent, yoy), telecommunications and sound recording and reproducing apparatus and equipment (+7.8 percent) and electrical machinery, apparatus and appliances, and electrical parts thereof (+4.2 percent). Sales of office machines and automatic data processing machines fell by 18.1 percent.
Increases in imports were registered for electrical machinery, apparatus and appliances, and electrical parts thereof (+10.6 percent), telecommunications and sound recording and reproducing apparatus and equipment (+6.5 percent) and miscellaneous manufactured articles (+9.1 percent). However, an 18.1 percent decrease was registered in imports of office machines and automatic data processing machines.
In the first quarter of 2014, exports rose by 0.7 percent over the same period in 2013 and imports increased by 2.1 percent. The trade deficit amounted to HKD 124.0 billion. Comparing the first quarter of 2014 with the preceding quarter on a seasonally adjusted basis, exports decreased by 5.4 percent and the imports decreased by 3.1 percent.