Hong Kong Trade Deficit Widens in June


Hong Kong trade gap increased to HKD 45.78 billion in June of 2015 from a HKD 43.1 billion deficit a year earlier, as exports and imports fell.

Exports went down by 3.1 percent to HKD 299.5 billion compared with June 2014, after a year-on-year decrease of 4.6 percent in May 2015. Sales to Asia declined 4.1 percent, due to decreases in Korea (-23.8 percent), Taiwan (-18.2 percent), Malaysia (-10.7 percent), Thailand (-7.5 percent), Japan (-6.2 percent), the mainland of China (-4.3 percent). On the other hand, overall increases were recorded in Vietnam (+19.3 percent) and Philippines (+13.1 percent). Apart from destinations in Asia, decrease was also registered in United Kingdom (-6.7 percent). In contrast, increase was registered in the value of total exports in the USA (+0.6 percent).

Exports of articles of apparel and clothing accessories went down by 12.4 percent; office machines and automatic data processing machines by 6.2 percent; electrical machinery, apparatus and appliances, and electrical parts thereof decreased by 2.5 percent; while telecommunications and sound recording and reproducing apparatus and equipment went up by 4.5 percent.

Imports declined 2 percent to HKD 345.3 billion compared with June of the previous year, after a year-on-year decrease of 4.7 percent in May 2015, driven by less purchases from Switzerland (-21.7 percent), Taiwan (-12.4 percent), Singapore (-10.7 percent), Thailand (-5.9 percent), Japan (- 8.3 percent), Korea (- 2.5 percent).  In contrast, increases were registered from Malaysia (+6.5 percent), USA (+4.4 percent), and the mainland of China (+2.4 percent).

Imports of electrical machinery, apparatus and appliances, and electrical parts thereof decreased by -1.7 percent; office machines and automatic data processing machines by 4.8 percent; non-metallic mineral manufactures by 9.9 percent. However, a year-on-year increase was registered in the value of telecommunications and sound recording and reproducing apparatus and equipment by 11.2 percent.

The visible trade deficit of HKD 45.8 billion was equivalent to 13.3 percent of the value of imports of goods.

Hong Kong Trade Deficit Widens in June


Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
7/27/2015 10:15:46 AM