Hong Kong Trade Deficit Almost Unchanged in June


Hong Kong trade gap increased slightly to HKD 43.1 billion in June of 2014, from HKD 42.4 billion in the previous month. Compared with a year earlier, the trade deficit decreased by 13.2 percent, as exports for the major markets strengthened.

In June of 2014, exports posted an 11.4 percent year-on-year increase, reaching HKD 309.2 billion. Sales increased for electrical and electrical parts products (26.2 percent), machines (13.4 percent) and telecommunications and sound products (5.9 percent). Exports to Asia grew 12.5 percent in June of 2014, in particular to India (+34.1 percent, yoy), Thailand (+16.6 percent), China (+13.9 percent), Vietnam (+13.5 percent) and Malaysia (+11.6 percent). Also, higher exports were registered to the UK (+13.3 percent), the US (+5.7 percent) and Germany (+2.9 percent). Lower deliveries were made to Japan (-2.4 percent).

Imports were recorded at HKD 352.3 billion in June of 2014, increasing 7.6 percent from the previous year. Higher purchases were made for electrical and electrical parts products (19.9 percent), telecommunications and sound products (7.9 percent) and mineral manufactures (18.4 percent). Purchases rose from Taiwan (+25.9 percent), Thailand (+12.5 percent), Singapore (+10.8 percent), the US (+8.3 percent), Korea (+8.2 percent) and China (+7.8 percent).

Comparing the second quarter of 2014 with the preceding period, exports rose by 3.4 percent and imports increased by 1.3 percent.

The trade deficit amounted to HKD 263.2 billion, in the first half of 2014, as both exports and imports increased over the same period in 2013 (2.8 percent and 3.3 percent, respectively). 

Hong Kong Trade Deficit Almost Unchanged in June


Census and Statistics Department | Isabel Felino | isabel.felino@tradingeconomics.com
7/24/2014 10:44:26 AM