Hong Kong Trade Gap at 4-Month Low in May


Hong Kong trade deficit narrowed to HKD 26.2 million in May of 2016, compared to HKD 40.1 million gap a year earlier. Exports decreased at a slower 0.1 percent, as sales to India and Taiwan saw more notable growth and to the the EU and the China increased slightly while outbound shipments to the US and Japan were still weak. Imports fell 4.3 percent, mainly driven by lower purchases from the US, Japan and Thailand.

Exports declined for the 13th consecutive month by 0.1 percent from a year earlier to HKD 291.5 billion, after 2.3 percent drop in the previous month, due to lower sales of office machines and automatic data processing machines (-7.4 percent); miscellaneous manufactured articles (-8.7 percent) and articles of apparel and clothing accessories (-10.7 percent) while electrical machinery, apparatus and appliances, and electrical parts thereof increased (+7.6 percent). Sales decreased to Vietnam (-21.6 percent), Malaysia (-19.6 percent), Japan (-7.8 percent), South Korea (-1.9 percent), the UK (-13.4 percent) and the USA (-6.1 percent). On the other hand, increases were recorded in the values of total exports to India (+37.1 percent); Taiwan (+22.1 percent); the Philippines (+5.7 percent) and China  (+0.9 percent). 

Imports declined 4.3 percent to HKD 317.7 billion as decreases were recorded in purchases of telecommunications and sound recording and reproducing apparatus and equipment (-4.2 percent), office machines and automatic data processing machines (-11.1 percent) and textile yarn, fabrics, made-up articles and related products (-16.8 percent) while went up for electrical machinery, apparatus and appliances, and electrical parts thereof (+4.2 percent). Imports fell for major suppliers, namely USA (-16.6 percent), Japan (-14.0 percent), Thailand (-10.1 percent), Singapore (-9.8 percent), Malaysia (-9.4 percent) and China (-3.8 percent). Concurrently, increases were registered in the values of imports from India (+16.3 percent) and South Korea (+10.0 percent).

 Hong Kong Trade Gap at 4-Month Low in May


Yekaterina | yekaterina@tradingeconomics.com
6/27/2016 10:05:30 AM