Hong Kong Trade Deficit Narrows in August


Hong Kong trade gap decreased to HKD 31.5 billion in August of 2014 from HKD 39.57 billion a year earlier, as merchandise exports continued to expand solidly, supported by further growth across most major markets.

In August 2014, the value of total exports of goods (comprising re-exports and domestic exports) increased by 6.4 percent over a year earlier to HKD 327.2 billion, after a year-on-year increase of 6.8 percent in July 2014. Within this total, the value of re-exports increased by 6.4 percent to HKD 321.9 billion in August 2014, while the value of domestic exports increased by 7.2 percent to HKD 5.3 billion. 

Year-on-year, total exports to Asia as a whole grew by 5.8 percent. In this region, increases were registered in the values of total exports to most major destinations, in particular India (+38.1 percent), Thailand (+32.7 percent), Malaysia (+23.8 percent), Taiwan (+13.7 percent) and Vietnam (+13.3 percent). The value of total exports to the mainland of China also rose by 3.9 percent. Apart from destinations in Asia, increases were also registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (+9.4 percent) and the USA (+5.7 percent). Concurrently, a decrease was registered in the value of total exports to Germany (-7.8 percent).

Meanwhile, increases were registered in the values of total exports of some principal commodity divisions, in particular electrical machinery, apparatus and appliances, and electrical parts thereof (+16.7 percent), office machines and automatic data processing machines (+ 8.5 percent) and telecommunications and sound recording and reproducing apparatus and equipment (+ 4.0 percent).

The value of imports of goods increased by 3.4 percent over a year earlier to HKD 358.8 billion in August 2014, after a year-on-year increase of 7.5 percent in July 2014. Increases were registered in the values of imports from some major suppliers, in particular Taiwan (+25.9 percent), Malaysia (+21.6 percent), Thailand (+14.5 percent), Singapore (+4.4 percent), Korea (+1.9 percent) and the Mainland (+1.8 percent). Concurrently, decreases were registered in the values of imports from Switzerland (-4.1 percent), Japan (-3.7 percent) and India (-2.3 percent).

Hong Kong Trade Deficit Narrows in August


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
9/25/2014 10:10:33 AM