Hong Kong Trade Deficit Widens in April


Honk Kong trade gap increased 29.5 percent over a year earlier to HKD 55.3 billion in April of 2014, driven a fall in exports to China and lower demand from the advanced markets, due to the different timing of Easter holidays in 2013 and 2014.

Exports of goods decreased by 1.6 percent over a year earlier to HKD 285.7 billion, after a year-on-year increase of 3.4 percent in March. Lower sales were recorded for office machines and automatic data processing machines (-12.9 percent), telecommunications and sound recording and reproducing apparatus and equipment (-7.0 percent) and miscellaneous manufactured articles (mainly jewelry, goldsmiths' and silversmiths' wares (-10.5 percent). However, an increase was registered in shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (+9.5 percent).

Exports to Asia as a whole went down by 1.6 percent: Philippines (-13.7 percent), Singapore (-8.4 percent), Taiwan (-7.8 percent), Malaysia (-3.6 percent), Japan (-3.5 percent), Korea (-2.6 percent), Thailand (-2.0 percent) and China (-1.1 percent). On the other hand, increases were recorded in the exports to Vietnam (+10.3 percent) and India (+1.4). Sales to the United States fell 5.6 percent, while those to the United Kingdom and Germany advanced 7.7 percent and 0.7 percent, respectively. 

Imports increased by 2.4 percent over a year earlier to HKD 341.0 billion in April 2014, after a year-on-year increase of 3.2 percent in March.

Hong Kong Trade Deficit Widens in April


Census & Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
5/27/2014 10:13:41 AM