The trade deficit in Hong Kong narrowed to HKD 28 billion in August 2019 from HKD 52.1 billion in the corresponding month of the previous year. It was the smallest trade gap in seven months, as imports dropped 11.1 percent over a year earlier while exports declined at a softer 6.3 percent. Balance of Trade in Hong Kong averaged -8081.33 HKD Million from 1952 until 2019, reaching an all time high of 7228 HKD Million in January of 2009 and a record low of -59898 HKD Million in December of 2017.

Balance of Trade in Hong Kong is expected to be -59000.00 HKD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Hong Kong to stand at -55000.00 in 12 months time. In the long-term, the Hong Kong Balance of Trade is projected to trend around -62000.00 HKD Million in 2020, according to our econometric models.

Hong Kong Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-25 08:30 AM Balance of Trade May H$-34.7B H$-35.1B H$-40B
2019-07-25 08:30 AM Balance of Trade Jun H$-55.2B H$-34.7B H$ -53B
2019-08-26 08:30 AM Balance of Trade Jul H$-32.2B H$-55.2B H$-49B
2019-09-26 08:30 AM Balance of Trade Aug H$-28B H$-32.2B H$-56B
2019-10-24 08:30 AM Balance of Trade Sep H$-28B H$ -59B
2019-11-26 08:30 AM Balance of Trade Oct H$-48B
2019-12-30 08:30 AM Balance of Trade Nov H$-46B



Hong Kong Trade Gap Smallest in 7 Months

The trade deficit in Hong Kong narrowed to HKD 28 billion in August 2019 from HKD 52.1 billion in the corresponding month of the previous year. It was the smallest trade gap in seven months, as imports dropped 11.1 percent over a year earlier while exports declined at a softer 6.3 percent.

Imports went down 11.1 percent over a year ago to HKD 380.8 in August, mostly due to lower purchases of electrical machinery, apparatus & appliances, and electrical parts thereof (-7.6 percent); office machines & automatic data processing machines (-27.3 percent); and telecommunications and sound recording and reproducing apparatus and equipment (-16.2 percent). Meanwhile, imports of power generating machinery and equipment jumped 53.8 percent.

Among major trading partners, imports dropped from India (-30.2 percent), Malaysia (-30 percent), South Korea (-17 percent), the US (-16.1 percent), the Mainland (-12.5 percent), Thailand (-11.7 percent) and Singapore (-10.4 percent).

Exports fell 6.3 percent to HKD 352.7 billion, mainly due to lower sales of telecommunications and sound recording and reproducing apparatus and equipment (-11.7 percent); electrical machinery, apparatus & appliances, and electrical parts thereof (-4.1 percent); and non-metallic mineral manufactures (-21.5 percent). On the other hand, sales of power generating machinery and equipment advanced 18.1 percent.

Exports to Asia as a whole declined 4.8 percent, in particular Malaysia (-21.6 percent), India (-20.8 percent), Thailand (-16.5 percent), the Mainland (-5.2 percent), Vietnam (-3.3 percent) and Singapore (-2.7 percent). In contrast, sales went up to Taiwan (31.2 percent) and the Philippines (18.1 percent). Apart from destinations in Asia, export decreased to the UK (-13.3 percent) and the US (-8.8 percent), while rose to Germany (+4.7 percent).

A Government spokesman said the value of merchandise exports continued to record a visible year-on-year decline in August 2019, weighed by slackening global economic growth and escalated US-Mainland trade tensions. Exports to many major markets fell further. Uncertainties associated with the development of US-Mainland trade tensions will continue to pose downside risks to the already subdued external trading environment. Hong Kong's merchandise export performance will likely remain weak or even worsen further in the near term. The Government will continue to monitor the situation closely.


Census and Statistics Department of Hong Kong | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/26/2019 8:54:39 AM



Hong Kong Trade Last Previous Highest Lowest Unit
Balance of Trade -28049.00 -32172.00 7228.00 -59898.00 HKD Million [+]
Current Account 37770.00 35107.00 92020.00 -29059.00 HKD Million [+]
Current Account to GDP 4.30 4.70 15.00 -6.30 percent [+]
Imports 380777.00 370790.00 428452.00 230.00 HKD Million [+]
Exports 352727.00 338618.00 383651.50 172.00 HKD Million [+]
Terms of Trade 99.00 100.10 108.50 99.00 Index Points [+]
Capital Flows -66571.00 -5018.00 22424.00 -89673.00 HKD Million [+]
Tourist Arrivals 3590571.00 5196969.00 6784406.00 427254.00 [+]
Gold Reserves 2.08 2.10 2.10 2.08 Tonnes [+]
Foreign Direct Investment 16469.27 15922.86 16469.27 1955.85 HKD Billion [+]
External Debt 12760337.00 12695300.00 13257610.00 2707907.00 HKD Million [+]


Hong Kong Balance of Trade

Since the late 1990’s Hong Kong has been recording trade deficits, as imports grew at a faster pace than exports. Hong Kong major exports are electrical machinery, apparatus and appliances; telecommunications and sound equipment and automatic data processing machines. The country imports mainly machinery and transport equipment; miscellaneous manufactured articles; manufactured goods and food and live animals. Main trading partner is China (40 percent of total exports and 47 percent of total imports). Others include: Japan, Singapore, Taiwan and the United States. This page provides the latest reported value for - Hong Kong Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Balance of Trade - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-28049.00 -32172.00 7228.00 -59898.00 1952 - 2019 HKD Million Monthly




Country Last Previous
Argentina 1168.00 Aug/19
Australia 5926.00 Aug/19
Brazil 2250.00 Sep/19
Canada -955.30 Aug/19
China 396.50 Sep/19
Euro Area 14702.40 Aug/19
France -5019.00 Aug/19
Germany 16205.00 Aug/19
India -10860.00 Sep/19
Indonesia -160.50 Sep/19
Italy 2585.00 Aug/19
Japan -136.30 Aug/19
Mexico 775.00 Aug/19
Netherlands 3879.00 Aug/19
Russia 12006.00 Aug/19
Saudi Arabia 127500.00 Jun/19
Singapore 3833.90 Sep/19
South Africa 6842.94 Aug/19
South Korea 5973.00 Sep/19
Spain -2490000.00 Jul/19
Switzerland 2881.00 Sep/19
Turkey -2500.39 Aug/19
United Kingdom -1546.00 Aug/19
United States -54896.00 Aug/19


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