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