Hong Kong Trade Deficit Widens in September


The trade gap in Hong Kong increased to HKD 47.7 billion in September 2018 from HKD 44.7 billion in the corresponding month of the previous year, as exports rose 4.5 percent to HKD 375 billion, while imports jumped 4.8 percent to HKD 422.7 billion.

Year-on-year, imports went up 4.8 percent to HKD 422.7 billion, driven by higher purchases of electrical machinery, apparatus & appliances & electrical parts thereof (+8.3 percent); office machines & automatic data processing machines (+10.7 percent) and oil, oil products & related materials (+47.7 percent). On the other hand, imports declined for professional, scientific & controlling instruments (-7.2 percent).

Among major trading partners, imports advanced mainly from Malaysia (+51.4 percent), Singapore (+18.8 percent), South Korea (+9.8 percent), the US (+2.8 percent) and China (+2.8 percent), while purchases fell from India (-15.2 percent) and the Philippines (-4.5 percent). 

Exports rose 4.5 percent year-on-year to HKD 375 billion, as shipments increased for electrical machinery, apparatus & appliances & electrical parts thereof (+12.8 percent); miscellaneous manufactured articles (+11.2 percent) and office machines & automatic data processing machines (+5 percent). Contrarily, exports dropped for professional, scientific & controlling instruments (-7 percent).

Sales went up to Thailand (+23.2 percent), South Korea (+9.9 percent), Malaysia (+9.4 percent), the Philippines (+7.6 percent) and China (+7 percent). On the other hand, exports declined to Japan (-13.9 percent) and Taiwan (-9.5 percent).

Considering the January to September period, exports advanced 9.2 percent to HKD 3,072.8 billion and imports climbed 10.9 percent to HKD 3,494.5 billion, recording a trade deficit of HKD 421.7 billion.

Hong Kong Trade Deficit Widens in September


Census and Statistics Department of Hong Kong | Gabriela Costa | gabriela.costa@tradingeconomics.com
10/25/2018 9:14:01 AM