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