Hong Kong trade deficit widened sharply to $51.6 billion in December 2022 from $32.8 billion in the same period last year. Exports dropped by 28.9% to $348.1 billion, amid decrease in sales for most commodities, led by electrical machinery, appliances and parts (-21.6%), telecommunications, sound recording and reproducing equipment (-44.1%), and office machines and automatic data processing machines (-39.8%). Meanwhile, imports also fell by 23.5%, as arrivals largely declined for electrical machinery, appliances and parts (-17.8%), telecommunication, sound recording and reproducing equipment (-42.8%), and office machines and automatic data processing machines (-35.7%). For the whole of 2022, the trade deficit widened to $395.8 billion from $347.1 billion in the same period of 2021, as exports dropped by 8.6% and imports by 7.2%. source: Census and Statistics Department, Hong Kong
Balance of Trade in Hong Kong averaged -9125.98 HKD Million from 1952 until 2022, reaching an all time high of 7228.00 HKD Million in January of 2009 and a record low of -68533.00 HKD Million in June of 2022. 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 February of 2023.
Balance of Trade in Hong Kong is expected to be -21000.00 HKD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Balance of Trade is projected to trend around -448300.00 HKD Million in 2024 and -481900.00 HKD Million in 2025, according to our econometric models.