Hong Kong Trade Deficit Lowest Since January 2014


Hong Kong trade gap decreased to HKD 25.1 billion in August of 2015 from a HKD 35.5 billion deficit a year earlier, the lowest since January of 2014. Imports fell more than exports but both shrank the most since February of 2013.

Exports went down by 6.1 percent to HKD 307.3 billion compared with August 2014, after a year-on-year decrease of 1.6 percent in July 2015. Sales to Asia declined 7.0 percent, due to decreases in Taiwan (-24.5 percent), Thailand (-22.8 percent), Korea (-18.2 percent), Malaysia (-14.8 percent), Japan (-7.7 percent), India (-6.8 percent) and the mainland of China (-6.8 percent). On the other hand, overall increases were recorded in Vietnam (+15.8 percent) and Philippines (+6.8 percent). Apart from destinations in Asia, the decrease was also registered in United Kingdom (-13.5 percent) and Germany (-4.3 percent). In contrast, the increase was registered in the value of total exports in the USA (+0.7 percent).

Exports of  office machines and automatic data processing machines went down by 11.8 percent; miscellaneous manufactured articles by 6.6 percent; articles of apparel and clothing accessories by 10.1 percent; while telecommunications and sound recording and reproducing apparatus and equipment went up by 0.5 percent. 

Imports declined 7.4 percent to HKD 332.3 billion compared with August of the previous year, after a year-on-year decrease of 5.2 percent in July 2015, driven by less purchases from Japan (-13 percent), Taiwan (-13.4 percent), the USA (-19.5 percent), India (-20.2 percent),  Singapore (-14.2 percent) and the mainland of China (-1.8 percent).

Imports of electrical machinery, apparatus and appliances, and electrical parts thereof decreased by -7.0 percent; non-metallic mineral manufactures by 21.1 percent and office machines and automatic data processing machines by 8.7 percent. However, a year-on-year increase was registered in the value of telecommunications and sound recording and reproducing apparatus and equipment by 5.1 percent.

The visible trade deficit of HKD 25.1 billion was equivalent to 7.5 percent of the value of imports of goods.



Hong Kong Trade Deficit Lowest Since January 2014


Census and Statistics Department | Yekaterina | yekaterina@tradingeconomics.com
9/24/2015 12:13:31 PM