Hong Kong Trade Deficit Widens Slightly in November


In November, Hong Kong trade deficit widened slightly to 44.6 billion HKD from 44.1 billion a year earlier. Exports increased by 5.8 percent on an annual basis driven by higher sales to Asia and the US.

In November 2013, the value of total exports of goods increased by 5.8 percent over a year earlier to $325.5 billion, after a year-on-year increase of 8.8 percent in October 2013. The value of imports of goods increased by 5.2 percent over a year earlier to $370.1 billion in November 2013, after a year-on-year increase of 6.3 percent in October 2013.

Comparing November 2013 with November 2012, total exports to Asia as a whole grew by 4.3 percent. In this region, increases were registered in the values of total exports to most major destinations, in particular Vietnam (+20.5 percent), Korea (+17.9 percent), the Philippines (+5.9 percent), India (+5.0 percent) and the mainland of China (the Mainland) (+3.7 percent). 

Apart from destinations in Asia, increases were also registered in the values of total exports to some major destinations in other regions, in particular the USA (+2.0 percent). Decreases were registered in the values of total exports to Germany (-7.7 percent) and the United Kingdom (-0.6 percent).

Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular Malaysia (+26.1 percent), the USA (+22.1 percent), Taiwan (+11.1 percent), Korea (+10.9 percent), Thailand (+10.4 percent) and the Mainland (+5.6 percent).

Shipments increased for telecommunications and sound recording and reproducing apparatus and equipment (by $10.5 billion or 18.0 percent), electrical machinery, apparatus and appliances, and electrical parts thereof (by $9.3 billion or 11.0 percent) and non-metallic mineral manufactures (by $3.3 billion or 33.3 percent).

Hong Kong Trade Deficit Widens Slightly in November


Census & Statistics Department | Nuno Fontes | nuno@tradingeconomics.com
12/30/2013 9:13:29 AM