Hong Kong Trade Deficit Highest in 4 Years for April


Hong Kong trade deficit widened 37.5 percent year-on-year to HKD 46.9 billion in April of 2018 from HKD 34.1 billion in the same month a year earlier. It is the highest trade gap for an April month since 2014 as imports jumped 11.1 percent year-on-year to HKD 377.2 billion, mostly due to electrical machinery & electrical parts thereof; office machines & automatic data processing machines and photographic equipment. Meantime, exports increased 8.1 percent to HKD 330.2 billion, mainly due to electrical machinery & electrical parts thereof and office machines & automatic data processing machines.

Year-on-year, imports jumped 11.1 percent to HKD 377.2 billion, after a 10.7 percent gain in the prior month. Purchases increased mainly from Malaysia (+93.2 percent), South Korea (+26.3 percent), Taiwan (+23.8 percent), Philippines (+17.2 percent), Japan (+10.5 percent) and China (+9.6 percent). By contrast, total imports went down from India (-26.3 percent) and Singapore (-3.3 percent).

By commodity, imports grew mostly for electrical machinery & electrical parts thereof (+18.9 percent); office machines & automatic data processing machines (+28.3 percent) and photographic equipment, watches & clocks (+23 percent). On the other hand, a drop was recorded in the value of imports of miscellaneous manufactured articles (-7.9 percent).

Exports rose 8.1 percent to HKD 333.2 billion, following an 8 percent gain in March. Sales to Asia as a whole grew 7.2 percent, in particular Taiwan (+27.8 percent), Singapore (+15 percent), China (+12.9 percent), Thailand (+12.6 percent) and Malaysia (+10.4 percent). In contrast, total exports fell to India (-49.5 percent) and South Korea (-2 percent). Apart from destinations in Asia, an increase was recorded in the values of total exports to USA (+11.7 percent), Germany (+8 percent) and the UK (+7 percent).

By commodity, shipments advanced for electrical machinery & electrical parts thereof (+18.3 percent); office machines & automatic data processing machines (+17.3 percent) and miscellaneous manufactured articles (+31.5 percent). Meanwhile, a fall was registered in the value of total exports of non-metallic mineral manufactures (-42.9 percent).

For the first four months of 2018 as a whole, exports rose by 9.3 percent while imports increased 10.7 percent over the same period a year earlier. As a result, the trade deficit widened 22 percent to HKD 176.8 billion.

Hong Kong Trade Deficit Highest in 4 Years for April


Census and Statistics Department of Hong Kong | Gabriela Costa | gabriela.costa@tradingeconomics.com
5/28/2018 9:32:14 AM