Hong Kong Trade Deficit Narrows in April


Hong Kong trade gap decreased to HKD 39.16 billion in April of 2015 from a HKD 55.29 billion deficit a year earlier, as exports rose and imports fell.

Exports went up by 2.2 percent to HKD 291.9 billion compared with April 2014, after a year-on-year decrease of 1.8 percent in March 2015. Sales to Asia grew by 1.1 percent, due to increases in  Philippines (+31.6 percent), India (+20.2 percent), Malaysia (+19.2 percent), Vietnam (+14.2 percent) and Thailand (+11.8 percent). On the other hand, overall decreases were recorded in Taiwan (-20.0 percent), Korea (-10.3 percent), Japan (-0.8 percent) and the mainland of China(-0.1 percent). Apart from destinations in Asia, increases were also registered in the United Kingdom (+14.6 percent) and the USA (+9.6 percent). In contrast, a decrease was registered in the value of total exports to Germany (-7.7 percent).

Exports of telecommunications and sound recording and reproducing apparatus and equipment rose 14.2 percent; office machines and automatic data processing machines grew 14.8 percent; and electrical machinery, apparatus and appliances, and electrical parts thereof went up 1.0 percent; while articles of apparel and clothing accessories shrank by 12.8 percent.

Imports declined 2.9 percent to HKD 331.1 billion compared with April of the previous year, after a year-on-year decrease of 2.7 percent in March 2015, driven by less purchases from Switzerland (-20.6 percent), Malaysia (-19.8 percent), Japan (-13.9 percent), Taiwan (-12.6 percent) and Singapore (-8.3 percent). In contrast, increases were registered from Korea (+11.2 percent) and the mainland of China (+1.4 percent).

Imports of electrical machinery, apparatus and appliances, and electrical parts thereof fell by 5.0 percent; petroleum, petroleum products and related materials went down by 24.2 percent; and miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares) decreased by 8.0 percent. However, there was an increase of telecommunications and sound recording and reproducing apparatus and equipment purchases by 15.4 percent.

The visible trade deficit of HKD 39.16 billion was equivalent to 11.8 percent of the value of imports of goods.

Hong Kong Trade Deficit Narrows in April


Census and Statistics Department | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/28/2015 10:16:10 AM