The trade deficit in Hong Kong decreased to HKD 51.2 billion in December of 2018 from HKD 59.9 billion in the same month a year ago. Imports declined at a faster 7 percent to HKD 391.2 billion and exports fell 5.8 percent to HKD 339.9 billion. Balance of Trade in Hong Kong averaged -7808.99 HKD Million from 1952 until 2018, 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 -53357.00 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 -52258.00 in 12 months time. In the long-term, the Hong Kong Balance of Trade is projected to trend around -52288.00 HKD Million in 2020, according to our econometric models.

Hong Kong Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-25 08:30 AM Balance of Trade H$-47.7B H$-52.1B H$ -50.2B
2018-11-26 08:30 AM Balance of Trade H$-44.5B H$-47.7B H$ -39.8B
2018-12-27 08:30 AM Balance of Trade H$-45B H$-44.5B H$ -41.6B
2019-01-28 08:30 AM Balance of Trade H$-51.2B H$-45B
2019-02-26 08:30 AM Balance of Trade H$-51.2B
2019-03-26 08:30 AM Balance of Trade
2019-04-29 08:30 AM Balance of Trade



Hong Kong Trade Gap Narrows in December

The trade deficit in Hong Kong decreased to HKD 51.2 billion in December of 2018 from HKD 59.9 billion in the same month a year ago. Imports declined at a faster 7 percent to HKD 391.2 billion and exports fell 5.8 percent to HKD 339.9 billion.

Year-on-year, imports slipped 7 percent to HKD 391.2 billion in December 2018, dragged down by lower purchases of electrical machinery, apparatus & appliances, and electrical parts thereof (-13 percent); telecommunications and sound recording and reproducing apparatus and equipment (-11.3 percent) and non-metallic mineral manufactures (-13 percent). However, imports of office machines and automatic data processing machines rose (9 percent).

Among major trading partners, imports decreased from Taiwan (-29.6 percent), Korea (-25.4 percent), India (-24.3 percent), the Philippines (-19.2 percent), Japan (-12.7 percent), Thailand (-8.0 percent) and the Mainland (-4.2 percent). Concurrently, an increase was recorded in imports from Malaysia (+14.3 percent).

Meantime, exports fell 5.8 percent to HKD 339.9 billion, as sales declined mostly for non-metallic mineral manufactures (-41 percent); electrical machinery, apparatus and appliances, and electrical parts thereof (-5.7 percent) and office machines and automatic data processing machines (-5.3 percent). In contrast, shipments of power generating machinery and equipment jumped (48.5 percent).

External sales to Asia as a whole declined 7.8 percent, namely India (-35.9 percent), Vietnam (-15.7 percent), China (-8.7 percent), Korea (-4.5 percent) and Japan (-3.6 percent). On the other hand, increases were recorded in total exports to Singapore (+29.9 percent) and Thailand (+9.9 percent).

Considering full 2018 year, the trade shortfall widened to HKD 563.3 billion from HKD 481.1 billion, as imports surged 8.4 percent to HKD 4721 billion and exports advanced 7.3 percent to HKD 4158 billion.

"A Government spokesman noted that the value of merchandise exports showed an enlarged year-on-year decline in December 2018, as the moderation in global economic growth and the US-Mainland trade tensions increasingly weighed on the exports of many Asian economies. Nonetheless, thanks to the strong performance in the earlier part of the year, the value of merchandise exports rose notably by 7.3 percent for 2018 as a whole. The near-term outlook for merchandise trade is challenging amid moderating global economic growth and the uncertainty surrounding the US-Mainland trade relations. The Government will continue to monitor the situation closely."


Census and Statistics Department of Hong Kong | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
1/28/2019 10:23:43 AM



Hong Kong Trade Last Previous Highest Lowest Unit
Balance of Trade -51249.00 -44964.00 7228.00 -59898.00 HKD Million [+]
Current Account 45772.00 15591.00 92020.00 -29059.00 HKD Million [+]
Current Account to GDP 4.20 4.00 15.00 -6.30 percent [+]
Imports 391187.00 409284.00 428452.00 230.00 HKD Million [+]
Exports 339938.00 364320.00 383651.50 172.00 HKD Million [+]
Terms of Trade 100.20 99.60 108.50 99.00 Index Points [+]
Capital Flows -27476.00 -45878.00 22424.00 -89673.00 HKD Million [+]
Tourist Arrivals 6586268.00 5995027.00 6586268.00 427254.00 [+]
Gold Reserves 2.10 2.10 2.10 2.08 Tonnes [+]
Foreign Direct Investment 15189.80 13356.84 15189.80 1955.85 HKD Billion [+]
External Debt 12972265.00 13057340.00 13057340.00 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-51249.00 -44964.00 7228.00 -59898.00 1952 - 2018 HKD Million Monthly




Country Last Previous
Argentina 1369.00 Dec/18
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -55.29 Dec/18
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 2415.21 Jan/19
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -2568800.00 Nov/18
Switzerland 1787.14 Dec/18
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18


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