Hong Kong Trade Deficit Narrows in July


Hong Kong trade gap decreased to HKD 28.4 billion in July of 2015 from a HKD 42.1 billion deficit a year earlier, as exports and imports fell.

Exports went down by 1.6 percent to HKD 320.9 billion compared with July 2014, after a year-on-year decrease of 3.1 percent in June 2015. Sales to Asia declined 2.1 percent, due to decreases in Taiwan (-25.9 percent), Korea (-24.8 percent), Malaysia (-10.0 percent), Singapore (-9.8 percent), Thailand (-8.2 percent), Japan (-4.4 percent), the mainland of China (-2.5 percent). On the other hand, overall increases were recorded in India (+33.5 percent) and Vietnam (+26.2 percent). Apart from destinations in Asia, decrease was also registered in Germany (-3.5 percent). In contrast, increase was registered in the value of total exports in United Kingdom (+9.1 percent) and the USA (+0.4 percent).

Exports of miscellaneous manufactured articles went down by 10.9 percent; articles of apparel and clothing accessories by 7.8 percent; while electrical machinery, apparatus and appliances, and electrical parts thereof went up by 4.2 percent and non-metallic mineral manufactures by 6.9 percent. 

Imports declined 5.2 percent to HKD 349.3 billion compared with July of the previous year, after a year-on-year decrease of 2 percent in June 2015, driven by less purchases from Switzerland (-23.7 percent), Japan (-14.2 percent), Taiwan (-11.7 percent), Malaysia (-7.8 percent), India (-5.2 percent), Singapore (-10.7 percent) and the mainland of China (-1.5 percent).  In contrast, increases were registered from USA (+3.0 percent).

Imports of electrical machinery, apparatus and appliances, and electrical parts thereof decreased by -4.2 percent; petroleum, petroleum products and related materials by 33.8 percent; non-metallic mineral manufactures by 18.7 percent. However, a year-on-year increase was registered in the value of telecommunications and sound recording and reproducing apparatus and equipment by 6.9 percent.

The visible trade deficit of HKD 28.4 billion was equivalent to 8.1 percent of the value of imports of goods.

Hong Kong Trade Deficit Narrows in July


Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
8/25/2015 10:08:52 AM