Hong Kong Trade Gap Widens Sharply in September


Hong Kong's trade deficit rose by 9.1 percent to HKD 39.7 billion in September 2016 from HKD 36.4 billion the same month of the previous year, as exports went up by 3.6 percent and imports rose at a faster 4.1 percent. Considering the first nine months of the year, the trade deficit was recorded at $304.2 billion, with exports declining by 2.6 percent and imports decreasing by 3.2 percent over the same period in 2015.

Exports of goods increased by 3.6 percent over a year earlier to HKD 328.0 billion, after an increase of 0.8 percent in August 2016. Exports to Asia as a whole grew by 4.9 percent, mainly to Taiwan (+27.9 percent), India (+20.8 percent), Singapore (+7.8 percent), China (+5.1 percent) and Korea (+3.4 percent). On the other hand, sales fell to Thailand (-11.8 percent), Vietnam (-5.8 percent) and Japan (-4.6 percent). Apart from destinations in Asia, decreases were registered to some major destinations in other regions, in particular Germany (-16.3 percent), the US (-1.2 percent) and the United Kingdom (-0.8 percent).

By commodity, exports rose for: Electrical machinery, apparatus and appliances, and electrical parts thereof (+13.2 percent); non-metallic mineral manufactures (+29.2 percent); and office machines and automatic data processing machines (+2.1 percent). However, a decrease was registered in telecommunications and sound recording and reproducing apparatus and equipment (-3.1 percent).

Imports of goods increased by 4.1 percent to HKD 367.7 billion, after a year-on-year increase of 2.8 percent the previous month. Increases were registered in the values of imports from some major suppliers, in particular Singapore (+20.5 percent), Korea (+20 percent), India (+19.4 percent), Taiwan (+9.9 percent), Malaysia (+5.2 percent) and China (+1.2 percent). Concurrently, decreases were registered in the values of imports from Japan (-5.9 percent) and Thailand (-3.9 percent).

By commodity, imports went up for: Electrical machinery, apparatus and appliances, and electrical parts thereof (+11.1 percent); non-metallic mineral manufactures (+14.4 percent); and telecommunications and sound recording and reproducing apparatus and equipment (+3.3 percent). However, a decrease was registered in office machines and automatic data processing machines (-5.3 percent).

For the first nine months of 2016 as a whole, there was a trade deficit of HKD 304.2 billion. Exports dropped by 2.6 percent over the same period in 2015, in particular to Vietnam (-8.1 percent), Japan (-5.5 percent), the US (-5.5 percent), Germany (-3.9 percent), Korea (-3.7 percent) and China (-2.6 percent); and imports decreased by 3.2 percent, as purchases decreased to Japan (-8.6 percent), the US (-6.6 percent), Malaysia (-5.6 percent) and China (-4.2 percent).

Hong Kong Trade Gap Widens Sharply in September


Census and Statistics Department | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/27/2016 9:02:18 AM