Hong Kong Balance of Trade

Hong Kong recorded a trade deficit of 53673 HKD Million in February of 2014. Balance of Trade in Hong Kong is reported by the Census and Statistics Department, Hong Kong. Balance of Trade in Hong Kong averaged -5282.90 HKD Million from 1952 until 2014, reaching an all time high of 7227.80 HKD Million in January of 2009 and a record low of -54351 HKD Million in December of 2013. 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 electronics and household electrical appliances, clothing and footwear, textile yarn and fabrics, toys and games and watches and clocks. The country imports mainly machinery and equipment, manufactured goods and articles, mineral fuels and food. Main trading partner is China (54 percent of total exports and 45 percent of total imports). Others include: Japan, the United States and Taiwan. This page provides - Hong Kong Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-53673.00 -19979.00 7227.80 -54351.00 -52095.63 | 2014/03 1952 - 2014 HKD Million Monthly

TO

Hong Kong Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-30 08:30 AM Hong Kong
Balance of Trade
Nov 2013 HKD -44.6B HKD -38.1B HKD -39.9B
2014-01-27 08:30 AM Hong Kong
Balance of Trade
Dec 2013 HKD -54.35B HKD -44.6B HKD -39.1B
2014-02-25 08:30 AM Hong Kong
Balance of Trade
Jan 2014 HKD -19.98B HKD -54.35B HKD -37.0B HKD -44B
2014-03-25 08:30 AM Hong Kong
Balance of Trade
Feb 2014 HKD -53.67B HKD -19.98B HKD -39.0B HKD -43.6B
2014-04-28 09:30 AM Hong Kong
Balance of Trade
Mar 2014 HKD -53.67B HKD -52.1B
2014-05-27 09:30 AM Hong Kong
Balance of Trade
Apr 2014 HKD -50B
[+]

Trade Last Previous Highest Lowest Forecast Unit
Current Account 18952.00 2013-11-15 31817.00 92020.00 -6817.00 24496.36 2014-03-31 HKD Million [+]
Balance of Trade -53673.00 2014-02-15 -19979.00 7227.80 -54351.00 -52095.63 2014-03-31 HKD Million [+]
Exports 212914.00 2014-02-15 303456.00 325522.00 172.00 284219.57 2014-03-31 HKD Million [+]
Imports 266587.00 2014-02-15 323436.00 370104.00 230.00 328494.24 2014-03-31 HKD Million [+]
Current Account to GDP 2.10 2013-12-31 1.60 13.70 -6.30 1.45 2014-06-30 Percent [+]
Capital Flows -45288.00 2013-11-15 -8589.00 31399.00 -89673.00 -18005.22 2014-03-31 HKD Million [+]
Gold Reserves 2.08 2013-12-31 2.08 2.08 2.08 Tonnes [+]
Terms of Trade 99.90 2014-02-15 100.00 108.50 99.00 100.12 2014-02-28 Index Points [+]
Tourist Arrivals 1751984.00 2014-03-15 1784015.00 2035367.00 211328.00 1777297.45 2014-03-31 [+]
[+]


Hong Kong Trade Deficit Widens 58% YoY in February

Hong Kong’s trade deficit increased sharply to HKD 53.7 billion in February of 2014 as exports fell by an annual 1.3 percent. Yet, taking January and February as a whole to neutralize the distortion caused by the difference in timing of the Lunar New Year holidays, export performance in the first two months of 2014 was rather sluggish.

Total exports of goods decreased by 1.3 percent yoy to HKD 212.9 billion, whereas the value of imports increased by 6.8 percent yoy to HKD 266.6 billion.

Year-on-year, exports to Asia as a whole grew by 3.7 percent. In this region, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+33.1 percent), Singapore (+14.8 percent), Indonesia (+8.6 percent) and China (+6.5 percent).  On the other hand, decreases were recorded in the values of total exports to India (-18.0 percent), Japan (-13.7 percent) and Korea (-10.9 percent).

Apart from destinations in Asia, decreases were registered in exports to Germany (-19.7 percent), the USA (-19.5 percent) and the United Kingdom (-16.9 percent).

By commodity, decreases were registered in sales of office machines and automatic data processing machines (-12.5 percent), articles of apparel and clothing accessories (-30.5 percent) and telecommunications and sound recording and reproducing apparatus and equipment (-6.6 percent).  However, an increase was registered in shipments of electrical machinery, apparatus and appliances, and electrical parts (+ 18.0 percent).

Increases were registered in imports of electrical machinery, apparatus and appliances, and electrical parts (22.0 percent) and non-metallic mineral manufactures (+18.0 percent).  However, decreases were registered for office machines and automatic data processing machines (-9.9 percent) and petroleum, petroleum products and related materials (-19.3 percent).

Purchases from Malaysia (+40.7 percent), Thailand (+29.3 percent), Taiwan (+25.8 percent), Switzerland (+20.7 percent) and India (+15.8 percent) increased, while those from Singapore (-2.8 percent) and China (-0.8 percent) fell on the year.

Taking the first two months of 2014 together, exports of goods dropped by 0.8 percent over the same period in 2013, while imports of goods increased by 1.4 percent.

Census & Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
3/25/2014 9:21:32 AM

RECENT RELEASES

Hong Kong Trade Deficit Narrows Sharply in January
In January of 2014, Hong Kong’s trade deficit decreased 63 percent over a month earlier to HKD 19.8 billion, due to a fall in imports. A year earlier the trade deficit reached HKD 27.5 billion, as the Chinese New Year fell in late January and early February in 2014 but in mid-February in 2013. Published on 2014-02-25

Hong Kong Trade Deficit Widens in December
In December of 2013, Hong Kong trade deficit increased to HKD 54.4 billion, as exports were unchanged from a year earlier and imports rose 1.8 percent. For 2013 as a whole, a visible trade deficit of HKD 501.0 billion, equivalent to 12.3 percent of the value of imports of goods was recorded. Published on 2014-01-27


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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