The trade deficit in Hong Kong narrowed sharply to HKD 14.6 billion in August of 2020 from HKD 29.8 billion a year earlier. Exports went down 2.3% yoy to HKD 344.5 billion, mainly due to sales of apparel and clothing (-33.6%); jewellery, goldsmiths' and silversmiths' wares (-13.2%); telecommunications and sound recording and reproducing apparatus and equipment (-3.1%); photographic apparatus, equipment and supplies, optical goods, watches and clocks (-17.5%) and power generating machinery and equipment (-21.4%). Shipments were down mainly to Japan (-19.4%), Singapore (-14.6%), Thailand (-12.5%), South Korea (-9.1%) and China (-1.4 percent). Imports fell 5.7% to HKD 359.1 billion, with purchases falling mostly for jewellery, goldsmiths' and silversmiths' wares (-16.8%); apparel and clothing accessories (-34.5%) and non-metallic mineral manufactures (-18.7%). Purchases were down mainly to the US (-22%), China (-11.9%) and Japan (-7.3%).
Balance of Trade in Hong Kong averaged -8399.96 HKD Million from 1952 until 2020, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Census and Statistics Department, Hong Kong
Balance of Trade in Hong Kong is expected to be -5000.00 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 -39000.00 in 12 months time. In the long-term, the Hong Kong Balance of Trade is projected to trend around -82000.00 HKD Million in 2021 and -52000.00 HKD Million in 2022, according to our econometric models.