Hong Kong's Trade Deficit Narrows in October


Hong Kong's visible trade deficit stood at $42.7 billion in October 2012, as exports decreased to $297 billion and imports swelled to $339.7 billion.

In October 2012, the value of total exports of goods (comprising re-exports and domestic exports) decreased by 2.8 percent over a year earlier to $297.0 billion, after a year-on-year increase of 15.2 percent in September 2012. Within this total, the value of re-exports decreased by 2.7 percent to $292.2 billion in October 2012, while the value of domestic exports decreased by 8.2 percent to $4.8 billion. Concurrently, the value of imports of goods increased by 3.3 percent over a year earlier to $339.7 billion in October 2012, after a year-on-year increase of 14.9 percent in September 2012. A visible trade deficit of $42.7 billion, equivalent to 12.6 percent of the value of imports of goods, was recorded in October 2012.

For the first ten months of 2012 as a whole, the value of total exports of goods rose by 1.0 percent over the same period in 2011. Within this total, the value of re-exports increased by 1.3 percent, whereas the value of domestic exports decreased by 12.7 percent. Concurrently, the value of imports of goods increased by 2.6 percent. A visible trade deficit of $385.7 billion, equivalent to 12.0 percent of the value of imports of goods, was recorded in the first ten months of 2012.
 
Comparing the three-month period ending October 2012 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods rose by 3.6 percent. Within this total, the value of re-exports increased by 3.6 percent, while the value of domestic exports went up by 0.7 percent. Meanwhile, the value of imports of goods increased by 6.1 percent.

Census & Statistics Department | Andre Crujo | andre@tradingeconomics.com
12/14/2012 3:48:49 PM