Hong Kong Trade Gap Narrows in April


The trade deficit in Hong Kong decreased to HKD 35.1 billion in April of 2019 from HKD 46.9 billion in the same month a year ago. Imports declined at a faster 5.5 percent to HKD 356.6 billion and exports fell 2.6 percent to HKD 321.5 billion.

Year-on-Year, imports fell 5.5 percent to HKD 356.6 billion in April 2019, dragged down by lower purchases of electrical machinery, apparatus & appliances, and electrical parts thereof (-7.6 percent); office machines and automatic data processing machines (-16.5 percent) and non-metallic mineral manufactures (-14.6 percent). However, imports of power generating machinery & equipment increased (50 percent). 

Among major trading partners, imports decreased from Korea (-32.5 percent), India (-31.7 percent), Taiwan (-10.1 percent), Malaysia (-6.1 percent), the USA (-6.0 percent) and the Mainland (-1.6 percent). Concurrently, an increase was recorded in imports from Thailand (6.6 percent).

Meantime, exports dropped 2.6 percent to HKD 356.6 billion, as sales declined mostly for office machines & automatic data processing machines (-9.9 percent), miscellaneous manufactured articles (-8.6 percent) and textile yarn, fabrics, made-up articles and related products (-12.9 percent). In contrast, shipments of electrical machinery, apparatus & appliances, and electrical parts thereof jumped (1.5 percent). 

External sales to Asia as a whole went down 2.3 percent, namely Taiwan (-24.4 percent), India (-15.3 percent), Japan (-12.5 percent) and Vietnam (-12.4 percent). On the other hand, increases were recorded in total exports to Singapore (32.1 percent) and Philippines (28.3 percent). 

"A Government spokesman said that the value of merchandise exports registered a year-on-year decline of 2.6 percent in April, weighed down by the weaker performance of the global economy, US-Mainland trade tensions and various external headwinds. The weak export performance in recent months was likewise observed in many Asian economies. “ 

Hong Kong Trade Gap Narrows in April


Census and Statistics Department of Hong Kong | rafael.gonzalez@tradingeconomics.com
5/27/2019 9:41:23 AM