Hong Kong Trade Deficit Widens in August

In August of 2013, Hong Kong posted a trade deficit of HKD 39.6 billion, up from HKD 37.2 billion in July and HKD 36 billion a year earlier, as exports shrank after rebounding in the previous month. Sales to the US and Japan fell, while those to Europe improved and those to other Asian markets showed a mixed performance.

Exports of goods decreased by 1.3 percent over a year earlier to HKD 307.5 billion, after a year-on-year increase of 10.6 percent in July. Within this total, the value of re-exports decreased by 1.2 percent, while the value of domestic exports shrank by 10.4 percent.

Year-on-year, shipments to Asia as a whole went down by 2.3 percent: Malaysia (-16.7 percent), Japan (-5.2 percent), the Philippines (-3.6 percent) and China (-3.6 percent). Decreases were also recorded in exports to the US (-2.6 percent). In contrast, increases were recorded in exports to Vietnam (+31.7 percent) India (+8.1 percent), the United Kingdom (+5.5 percent) and Germany (+1.1 percent).

Sales of office machines and automatic data processing machines declined 15.2 percent yoy and baby carriages, toys, games and sporting goods dropped by 6.4 percent. However, increases were registered in exports of non-metallic mineral manufactures (35.3 percent) and telecommunications and sound recording and reproducing apparatus and equipment (5.4 percent).

Imports of goods slightly dropped by 0.2 percent over a year earlier to HKD 347.1 billion in August, after a year-on-year increase of 8.3 percent in July. 

Hong Kong Trade Deficit Widens in August

Census & Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
9/26/2013 10:04:08 AM