Hong Kong Trade Gap Rises in October


The trade deficit in Hong Kong widened to HKD 44.5 billion in October of 2018 from HKD 43.9 billion in the corresponding month of the previous year, as imports jumped 13.1 percent to HKD 428.1 billion and exports climbed 14.6 percent to a record high of HKD 383.6 billion.

Year-on-year, imports rose 13.1 percent to HKD 428.1 billion, driven by higher purchases of electrical machinery, apparatus & appliances & electrical parts thereof (+9.4 percent); telecommunications, sound recording, reproducing apparatus & equipment (+24.8 percent); office machines & automatic data processing machines (+21.4 percent) and miscellaneous manufactured articles (+30.7 percent). 

Among major trading partners, imports advanced mainly from China (18 percent); Singapore (10.7 percent); Korea (13.8 percent); Japan (13.1 percent); the US (14.8 percent) and Malaysia (30 percent), while purchases fell from Taiwan (-3.6 percent) and India (-3.2 percent).

Exports jumped 14.6 percent from a year earlier to a record high of HKD 383.6 billion, as shipments advanced for electrical machinery, apparatus & appliances & electrical parts thereof (+21.4 percent); telecommunications, sound recording, reproducing apparatus & equipment (+21.7 percent); office machines & automatic data processing machines (+6.5 percent) and miscellaneous manufactured articles (+21.1 percent). 

Sales went up to China (17.8 percent); the US (10.3 percent); Vietnam (13.6 percent) and Germany (4.2 percent). On the other hand, exports declined to India (-5.4 percent); Japan (-8.3 percent) and Taiwan (-19.1 percent).

Considering the January to October period, exports advanced 9.8 percent to HKD 3,455.8 billion and imports climbed 11.1 percent to HKD 3,922.1 billion, recording a trade deficit of HKD 466.3 billion.

Hong Kong Trade Gap Rises in October


Census and Statistics Department of Hong Kong | Agna Gabriel | agna.gabriel@tradingeconomics.com
11/26/2018 8:57:39 AM