Hong Kong Trade Deficit Widens in June


In June of 2013, Hong Kong posted a visible trade deficit of HKD 49.7 billion, up from HKD 44.3 billion in May and HKD 44.71 billion a year ago, as imports increased while exports remained sluggish.

In June of 2013, the value of total exports decreased by 0.2 percent over a year earlier to HKD 277.6 billion, following a year-on-year drop of 1.1 percent in May. Within this total, the value of re-exports remained virtually unchanged from a year earlier, while the value of domestic exports decreased by 10.1 percent. Month-over-month, exports shrank by 4.8 percent.

Year-on-year, exports to Asia as a whole dropped slightly by 0.1 percent, in particular those to Taiwan (-14.8 percent), the Philippines (-10.0 percent), India (-6.7 percent), Japan (-3.9 percent) and the mainland of China (-0.2 percent). On the other hand, increases were recorded in the values of total exports to Vietnam (+17.6 percent), Korea (+8.3 percent) and Malaysia (+7.8 percent). 

Apart from destinations in Asia, decreases were registered in the values of exports to the United Kingdom (-4.6 percent), Germany (-3.1 percent) and the USA (-3.0 percent).

Year-on-year, decreases were registered in the values of exports of professional, scientific and controlling instruments and apparatus and baby carriages, toys, games and sporting goods. However, increases were registered in the values of exports of telecommunications and sound recording and reproducing apparatus and equipment and office machines and automatic data processing machines.

The value of imports increased by 1.4 percent over a year earlier to HKD 327.3 billion in June 2013, after a year-on-year increase of 1.7 percent in May. 

For the first half of 2013 as a whole, the value of total exports of goods rose by 3.2 percent over the same period in 2012. Within this total, the value of re-exports increased by 3.3 percent, whereas the value of domestic exports decreased by 4.6 percent. Concurrently, the value of imports of goods increased by 4.1 percent. 

Hong Kong Trade Deficit Widens in June


Census & Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
7/25/2013 12:50:09 PM