Hong Kong Trade Deficit Widens 21% YoY in August


Hong Kong trade gap rose to HKD 32 billion in August 2016 from HKD 25.1 billion shortfall a year earlier. Exports went up 0.8 percent to HKD 309.7 billion and imports rose at a faster 2.8 percent to HKD 341.8 billion. For the first eight months of the year, the trade shortfall came at HKD 264.8 billion compared to HKD 295.8 billion in the same period of 2015, as exports of goods declined 3.4 percent and imports fell 4.2 percent.

Exports went up 0.8 percent year-on-year to HKD 309.7 billion, after a 5.1 percent fall in July 2016. Sales to Asia as a whole grew by 3.8 percent, in particular India (+27.4 percent), Taiwan (+20.8 percent), the mainland of China (the Mainland) (+4.3 percent), Korea (+3.2 percent) and Malaysia (+1.6 percent). On the other hand, decreases were recorded in the values of total exports to Vietnam (-13.5 percent), Japan (-11 percent) and the Philippines (-2.3 percent).

By commodity, increases were recorded for: electrical machinery, apparatus and appliances(12 percent); non-metallic mineral manufactures ( 17.6 percent) and telecommunications and sound recording and reproducing apparatus and equipment (2.2 percent). However, a decrease was registered in office machines and automatic data processing machines (-9.9 percent).

Imports rose by 2.8 percent year-on-year to HKD 341.8 billion as purchased form major suppliers declined: Japan (-9 percent), the USA (-7.4 percent), Malaysia (-7 percent), the Mainland (-5 percent) and Thailand (-4.2 percent). On the other hand, increases were registered in the values of imports from India (+7.8 percent) and Taiwan (+2 percent).

By commodity, increases were registered in particular for: electrical machinery, apparatus and appliances, and electrical parts thereof (+14.6 percent) and non-metallic mineral manufactures (+13.4 percent). However, decreases were registered in imports of office machines and automatic data processing machines (-10.3 percent) and miscellaneous manufactured articles, mainly jewellery, goldsmiths' and silversmiths' wares) (-8.4percent). 

For the first eight months of the year, the trade shortfall came at HKD 264.8 billion compared to HKD 295.8 billion in the same period of 2015, as exports of goods declined 3.4 percent and imports fell 4.2 percent.


 Hong Kong Trade Deficit Widens 21% YoY in August


Census and Statistics Department | Mojdeh Kazemi | mojdeh@tradingeconomics.com
9/27/2016 9:48:05 AM