Hong Kong Trade Deficit Narrows 28% in September


Hong Kong trade gap decreased by 27.8 percent to HKD 36.4 billion in September of 2015 from a HKD 50.4 billion deficit a year earlier, as exports fell at a slower pace than imports.

Year-on-year, exports went down by 4.6 percent to HKD 316.7 billion from HKD 332.0 billion. Sales to Taiwan (-26.1 percent), Singapore (-11.2 percent), the UK (-9.5 percent), Korea (-9.1 percent), India (-9 percent), the US (-7.9 percent) the mainland of China (-3.4 percent) and Japan (-2.9 percent) decreased the most. On the other hand, increases were recorded in the values of total exports to Vietnam (+8.5 percent), the Philippines (+5.2 percent) and Germany (+4.3 percent).

Exports of non-metallic mineral manufactures fell by 27.6 percent, office machines and automatic data processing machines by 9 percent and articles of apparel and clothing accessories by 11.0 percent. However, sales of electrical machinery, apparatus and appliances, and electrical parts thereof rose by 6.4 percent.

Imports declined faster by 7.6 percent to HKD 353.1 billion from 382.4 billion in September last year, driven by lower purchases from Switzerland (-27.3 percent), India (-24.7 percent), Taiwan (-12.4 percent), Singapore (-7.8 percent), the US (-6.9 percent), Japan (-5.4 percent) and the mainland of China (-3.6 percent). By contrast, imports from Korea went up 5.8 percent.

Imports of miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares) declined by 21.4 percent, non-metallic mineral manufactures by 24.1 percent and petroleum, petroleum products and related materials by 39.5 percent. However, purchases of electrical machinery, apparatus and appliances, and electrical parts thereof increased by 1.5 percent.

For the first nine months of 2015, exports dropped by 1.5 percent over the same period in 2014, and imports decreased by 3 percent. The visible trade deficit of HKD 332.1 billion was equivalent to 11.1 percent of the value of imports.

Hong Kong Trade Deficit Narrows 28% in September


Census and Statistics Department | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/27/2015 9:25:30 AM