The trade deficit in Hong Kong narrowed to HKD 34.7 billion in May 2019 from HKD 43.3 billion in the corresponding month of the previous year. Exports fell 2.4 percent year-on-year to HKD 343.1 billion and imports dropped at a faster 4.3 percent to HKD 377.8 billion. Balance of Trade in Hong Kong averaged -7960.26 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
2019-03-26 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$-35.1B H$-59.2B H$-47B
2019-06-25 08:30 AM Balance of Trade H$-34.7B H$-35.1B H$-40B
2019-07-25 08:30 AM Balance of Trade H$-34.7B H$ -53B
2019-08-26 08:30 AM Balance of Trade H$-49B
2019-09-26 08:30 AM Balance of Trade H$-56B



Hong Kong Trade Deficit Narrows in May

The trade deficit in Hong Kong narrowed to HKD 34.7 billion in May 2019 from HKD 43.3 billion in the corresponding month of the previous year. Exports fell 2.4 percent year-on-year to HKD 343.1 billion and imports dropped at a faster 4.3 percent to HKD 377.8 billion.

Year-on-year, exports declined 2.4 percent to HKD 343.1 billion in May 2019, mainly due to lower sales of office machines & automatic data processing machines (-15.7 percent); electrical machinery, apparatus an& appliances, and electrical parts thereof (-2 percent) and miscellaneous manufactured articles (-7.1 percent). On the other hand, sales of telecommunications & sound recording and reproducing apparatus & equipment rose (2.9 percent).

Exports to Asia as a whole went down 2.6 percent, namely Thailand (-14 percent), Malaysia (-11.6 percent), Singapore (-9.5 percent) and the Mainland (-4.1 percent). In contrast, exports advanced to South Korea (24.5 percent), the Philippines (12.1 percent) and India (8.9 percent). Apart from destinations in Asia, export dropped to Germany (-16.9 percent) and the US (-15 percent).

Imports decreased 4.3 percent to HKD 377.8 billion, mostly due to lower purchases of electrical machinery, apparatus & appliances, and electrical parts thereof (-5.3 percent); office machines & automatic data processing machines (-14.3 percent) and telecommunications & sound recording and reproducing apparatus & equipment (-4.1 percent). Meanwhile, purchases of photographic apparatus, equipment & supplies, optical goods, watches & clocks went up (6.5 percent).

Among major trading partners, imports declined from South Korea (-29.6 percent), India (-18.6 percent), Japan (-10.6 percent), Malaysia (-4.2 percent) and the Mainland (-4 percent). Concurrently, imports increased from Switzerland (22 percent) and the US (2.1 percent).

"A Government spokesman said that merchandise exports remained subdued in May, affected by the weaker global economy and US-Mainland trade tensions. The situation was similar to that in many other Asian economies. Looking ahead, the near-term outlook for Hong Kong's exports will continue to be clouded by various external uncertainties, including notably the evolution of US-Mainland trade relations. The Government will stay vigilant."


Census and Statistics Department of Hong Kong | Stefanie Moya | stefanie.moya@tradingeconomics.com
6/25/2019 8:49:53 AM



Hong Kong Trade Last Previous Highest Lowest Unit
Balance of Trade -34700.00 -35091.00 7228.00 -59898.00 HKD Million [+]
Current Account 36570.00 40393.00 92020.00 -29059.00 HKD Million [+]
Current Account to GDP 4.30 4.70 15.00 -6.30 percent [+]
Imports 377774.00 356609.00 428452.00 230.00 HKD Million [+]
Exports 343065.00 321517.00 383651.50 172.00 HKD Million [+]
Terms of Trade 100.10 99.80 108.50 99.00 Index Points [+]
Capital Flows -5018.00 -66114.00 22424.00 -89673.00 HKD Million [+]
Tourist Arrivals 5577201.00 5860346.00 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 12695300.00 13257610.00 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-34700.00 -35091.00 7228.00 -59898.00 1952 - 2019 HKD Million Monthly




Country Last Previous
Argentina 1131.00 Apr/19
Australia 4871.00 Apr/19
Brazil 6422.00 May/19
Canada -966.20 Apr/19
China 416.58 May/19
Euro Area 15671.60 Apr/19
France -4981.00 Apr/19
Germany 17900.00 Apr/19
India -15360.00 May/19
Indonesia 207.60 May/19
Italy 2884.57 Apr/19
Japan -967.11 May/19
Mexico 1370.00 Apr/19
Netherlands 4154.00 Apr/19
Russia 13705.00 Apr/19
Saudi Arabia 180059.00 Dec/18
Singapore 3962.64 May/19
South Africa -3427.45 Apr/19
South Korea 2271.00 May/19
Spain -1605300.00 Apr/19
Switzerland 1654.00 May/19
Turkey -2982.01 Apr/19
United Kingdom -2740.00 Apr/19
United States -50791.00 Apr/19


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