Hong Kong Trade Gap Widens Markedly in August


The trade gap in Hong Kong widened sharply to HKD 52.1 billion in August of 2018 from HKD 35.5 billion in the corresponding month of the previous year. Exports rose 13.1 percent to a record high of HKD 376.3 billion but imports jumped 16.4 percent, also to an all-time high of HKD 428.5 billion.

Year-on-year, imports jumped 16.4 percent to an all-time high of HKD 428.5 billion, folllowing a 14 percent gain in the previous month. Imports were driven by higher purchases of electrical machinery, apparatus & appliances & electrical parts thereof (+18.1 percent); telecommunications, sound recording, reproducing apparatus & equipment (+9.3 percent) and office machines & automatic data processing machines (+32.3 percent). 

Among major trading partners, imports advanced mainly from the mainland of China (+16 percent); Taiwan (+5.5 percent); Singapore (+3.5 percent); Korea (+20.8 percent) and Japan (+5.5 percent).

Exports rose 13.1 percent year-on-year to a record high of HKD 376.3 billion, after a 10 percent increase in July. Shipments went up for electrical machinery, apparatus & appliances & electrical parts thereof (+21.2 percent); telecommunications, sound recording, reproducing apparatus & equipment (+9.9 percent) and office machines & automatic data processing machines (+8.4 percent). 

Sales went up to the mainland of China (+13.6 percent); the USA (+17.9 percent); India (+18.2 percent) and Japan (+3.7 percent). On the other hand, exports declined to Taiwan (-24.2 percent) and Germany (-1.1 percent).

Considering the January to August period, exports advanced 9.9 percent to HKD 2,698.5 billion and imports climbed 11.8 percent to HKD 3,072.1 billion, recording a trade deficit of HKD 373.6 billion.

Hong Kong Trade Gap Widens Markedly in August


Census and Statistics Department of Hong Kong | Agna Gabriel | agna.gabriel@tradingeconomics.com
9/27/2018 9:04:45 AM