Hong Kong trade gap increased by 6.7 percent to HKD 59.2 billion in March of 2019 from a HKD 55.5 billion shortfall in the same month of the previous year. It was the biggest trade deficit since December 2017, as exports fell 1.2 percent to HKD 344 billion while imports declined 0.1 percent to HKD 403 billion. Considering the January-March period, the trade deficit narrowed to HKD 119 billion from HKD 130 billion in the same period of the previous year, with exports decreasing 3.2 percent and imports falling 2.4 percent. Balance of Trade in Hong Kong averaged -7926.65 HKD Million from 1952 until 2019, 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.

Balance of Trade in Hong Kong is expected to be -53000.00 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 -61000.00 in 12 months time. In the long-term, the Hong Kong Balance of Trade is projected to trend around -82000.00 HKD Million in 2020, according to our econometric models.

Hong Kong Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-28 08:30 AM Balance of Trade H$-51.2B H$-45B
2019-02-26 08:30 AM Balance of Trade H$-10.3B H$-51.2B H$-45B
2019-03-26 08:30 AM Balance of Trade H$-48.8B H$-10.3B H$-46B
2019-04-29 08:30 AM Balance of Trade H$-59.2B H$-48.8B H$-54B
2019-05-27 08:30 AM Balance of Trade H$-59.2B H$-47B
2019-06-25 08:30 AM Balance of Trade H$-40B
2019-07-25 08:30 AM Balance of Trade H$ -53B



Hong Kong Trade Deficit Highest in Over a Year

Hong Kong trade gap increased by 6.7 percent to HKD 59.2 billion in March of 2019 from a HKD 55.5 billion shortfall in the same month of the previous year. It was the biggest trade deficit since December 2017.


Exports declined 1.2 percent year-on-year to HKD 344 billion, mainly due to lower sales of electrical machinery, apparatus and appliances, and electrical parts thereof (-6.6 percent); office machines and automatic data processing machines (-13.8 percent); and miscellaneous manufactured articles, mainly jewellery, goldsmiths' and silversmiths' wares (-5.6 percent). However, an increase was registered in sales of telecommunications and sound recording and reproducing apparatus and equipment (10.6 percent). Among major trade partners, shipments to Asia as a whole went down 6.0 percent, particularly to India (-11.2 percent) and China (-10.1 percent). In contrast, increases were seen in exports to Philippines (45.6 percent), Singapore (23.8 percent), Taiwan (14.6 percent) and Malaysia (12.7 percent). Apart from Asia, exports to the US fell 0.3 percent, while those to the UK and Germany rose 29.4 percent and 15.9 percent respectively.

Imports fell 0.1 percent to HKD 403 billion, as declines in purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (-5.2 percent) and office machines and automatic data processing machines (-10.6 percent); were partially offset by increases in imports of telecommunications and sound recording and reproducing apparatus and equipment (9.3 percent), and miscellaneous manufactured articles, mainly jewellery, goldsmiths' and silversmiths' wares (12.5 percent). Among major import partners, decreases were registered in purchases from Taiwan (-25.5 percent), Thailand (-20.7 percent), India (-14.4 percent) and South Korea (-11.4 percent). Concurrently, increases were recorded in imports from Switzerland (22.6 percent), the US (12.4 percent) and China (7.4 percent).

"Hong Kong's exports remained weak in recent months, dampened by declines in manufacturing and trading activities in the region. In the near term the external trading environment will remain challenging. While the US-China trade talks have made progress, the Government will remain vigilant regarding the global economy", a Government spokesman said.


Census and Statistics Department of Hong Kong | Rafael Gonzalez
4/29/2019 10:19:10 AM



Hong Kong Trade Last Previous Highest Lowest Unit
Balance of Trade -59241.00 -48834.00 7228.00 -59898.00 HKD Million [+]
Current Account 42078.00 48005.00 92020.00 -29059.00 HKD Million [+]
Current Account to GDP 4.30 4.70 15.00 -6.30 percent [+]
Imports 402883.00 277508.00 428452.00 230.00 HKD Million [+]
Exports 343641.00 228674.00 383651.50 172.00 HKD Million [+]
Terms of Trade 99.80 100.30 108.50 99.00 Index Points [+]
Capital Flows -66114.00 -27476.00 22424.00 -89673.00 HKD Million [+]
Tourist Arrivals 5860346.00 5589628.00 6784406.00 427254.00 [+]
Gold Reserves 2.10 2.10 2.10 2.08 Tonnes [+]
Foreign Direct Investment 16469.27 15922.86 16469.27 1955.85 HKD Billion [+]
External Debt 13257610.00 12972265.00 13257610.00 2707907.00 HKD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Hong Kong Balance of Trade

Since the late 1990’s Hong Kong has been recording trade deficits, as imports grew at a faster pace than exports. Hong Kong major exports are electrical machinery, apparatus and appliances; telecommunications and sound equipment and automatic data processing machines. The country imports mainly machinery and transport equipment; miscellaneous manufactured articles; manufactured goods and food and live animals. Main trading partner is China (40 percent of total exports and 47 percent of total imports). Others include: Japan, Singapore, Taiwan and the United States. 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 - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-59241.00 -48834.00 7228.00 -59898.00 1952 - 2019 HKD Million Monthly




Country Last Previous
Argentina 1131.00 Apr/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.34 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 60.40 Apr/19
Mexico 1370.00 Apr/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19


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