Hong Kong's Trade Deficit Widens in November

The Census and Statistics Department released on December 27 the external merchandise trade statistics for November 2012. In November 2012, the values of Hong Kong's total exports and imports of goods both showed year-on-year increases, at 10.5 percent and 9.0 percent respectively. A visible trade deficit of $44.1 billion was posted in November, an increase from $42.7 in October.
Census & Statistics Department | Andre Crujo | andre@tradingeconomics.com
12/27/2012 9:58:27 AM

In November 2012, the value of total exports of goods (comprising re-exports and domestic exports) increased by 10.5 percent over a year earlier to $307.8 billion, after a year-on-year decrease of 2.8 percent in October 2012.  Within this total, the value of re-exports increased by 10.7 percent to $302.6 billion in November 2012, whereas the value of domestic exports decreased by 0.6 percent to $5.1 billion.  Concurrently, the value of imports of goods increased by 9.0 percent over a year earlier to $351.8 billion in November 2012, after a year-on-year increase of 3.3 percent in October 2012.  A visible trade deficit of $44.1 billion, equivalent to 12.5 percent of the value of imports of goods, was recorded in November 2012.

For the first eleven months of 2012 as a whole, the value of total exports of goods rose by 1.9 percent over the same period in 2011.  Within this total, the value of re-exports increased by 2.2 percent, whereas the value of domestic exports decreased by 11.7 percent.  Concurrently, the value of imports of goods increased by 3.2 percent.  A visible trade deficit of $429.9 billion, equivalent to 12.1 percent of the value of imports of goods, was recorded in the first eleven months of 2012.

Comparing the three-month period ending November 2012 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods rose by 6.7 percent.  Within this total, the value of re-exports increased by 6.9 percent, whereas the value of domestic exports went down by 0.8 percent.  Meanwhile, the value of imports of goods increased by 7.4 percent.

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