Hong Kong Trade Deficit at 7-Month High


Hong Kong trade gap widened to HKD 52.16 billion in November of 2014 from a HKD 44.58 billion shortfall a year earlier, as exports posted the lowest gain in seven months.

Year-on-year, exports rose a meager 0.39 percent to HKD 326.78 billion in November of 2014. Shipments to Asia as a whole went down by 2.1 percent, hurt by lower sales to Japan (-16.2 percent), Korea (-10.3 percent) and China (-4.5 percent). On the other hand, increases were recorded for India (+29.8 percent), Thailand (+24.8 percent) and the Philippines (+23.7 percent).

Apart from destinations in Asia, increases were registered in exports to the United States (+9.8 percent) while sales to the United Kingdom (-4.5 percent) and Germany (-0.4 percent) went down.

Exports of electrical machinery, apparatus and appliances, and electrical parts thereof rose 4.8 percent; office machines and automatic data processing machines went up 4.2 percent and sales of telecommunications and sound recording and reproducing apparatus and equipment increased 1.8 percent. However, a decrease was registered in sales of miscellaneous manufactured articles (mainly jewelry, goldsmiths' and silversmiths' wares) (-4.1 percent).

Imports went up 2.4 percent year-on-year to HKD 378.95 billion, driven by purchases from India (+52.4 percent), Korea (+21.8 percent), Thailand (+14.0 percent), Malaysia (+9.7 percent) and Switzerland (+6.4 percent). The value of imports from the Mainland also rose slightly by 0.1 percent. Concurrently, decreases were registered in imports from Japan (-6.5 percent) and Singapore (-0.1 percent). 

Imports of electrical machinery, apparatus and appliances, and electrical parts thereof rose 8.5 percent; telecommunications and sound recording and reproducing apparatus and equipment increased 6.7 percent and non-metallic mineral manufactures went up 8.5 percent. However, a decrease was registered in the value of imports of petroleum, petroleum products and related materials (-23.4 percent).

Hong Kong Trade Deficit at 7-Month High


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
12/29/2014 9:05:03 AM