Hong Kong Trade Deficit Narrows in September On Rising Exports

In September of 2013, Hong Kong trade deficit reached 42 billion HKD, from 39.6 billion HKD in the previous month and 45 billion HKD a year earlier. Total exports recorded an annual 1.5 percent increase due to re-exports and higher sales to the Asian countries.

Exports of goods increased by 1.5 percent over a year earlier to HKD 317.8 billion, after a year-on-year decrease of 1.3 percent in August. Within this total, the value of re-exports rose 1.8 percent, while the value of domestic exports shrank by 18 percent.

Year-on-year, increases were registered in exports of "telecommunications and sound recording and reproducing apparatus and equipment" (up by 16.9 percent) and "electrical machinery, apparatus and appliances, and electrical parts thereof" (up by 10.2 percent). However, decreases were registered for "office machines and automatic data processing machines" (down by 16.4 percent) and "professional, scientific and controlling instruments and apparatus" (down by 14.9 percent).

Shipments to Korea, Vietnam, India and China showed annual increases (26.9 percent, 20.9 percent 11.8 percent and 1.9 Percent, respectively). On the other hand, decreases were recorded in exports to the Philippines (-12.6 percent), Japan (-12.0 percent), Malaysia (-10.3 percent), Germany (-5.8 percent), the UK (-3.2 percent) and the US (-0.2 percent). 

Imports of goods slightly increased 0.4 percent over a year earlier to HKD 359.8 billion in September, after falling 0.2 percent in August.

Hong Kong Trade Deficit Narrows in September On Rising Exports

Census & Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
10/24/2013 10:00:39 AM