The trade deficit in Hong Kong widened to HKD 55.2 billion in June 2019 from HKD 54.1 billion in the same month of the previous year. Exports dropped 9 percent over a year earlier, the largest decline since February 2016 and imports fell at a softer 7.5 percent. 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
2019-04-29 08:30 AM Balance of Trade Mar H$-59.2B H$-48.8B H$-54B
2019-05-27 08:30 AM Balance of Trade Apr H$-35.1B H$-59.2B H$-47B
2019-06-25 08:30 AM Balance of Trade May H$-34.7B H$-35.1B H$-40B
2019-07-25 08:30 AM Balance of Trade Jun H$-55.2B H$-34.7B H$ -53B
2019-08-26 08:30 AM Balance of Trade Jul H$-55.2B H$-49B
2019-09-26 08:30 AM Balance of Trade Aug H$-56B
2019-10-24 08:30 AM Balance of Trade Sep H$ -59B



Hong Kong Trade Gap Widens in June

The trade deficit in Hong Kong widened to HKD 55.2 billion in June 2019 from HKD 54.1 billion in the same month of the previous year. Exports dropped 9 percent over a year earlier, the largest decline since February 2016 and imports fell at a softer 7.5 percent.

Year-on-year, exports went down 9 percent to HKD 309.6 billion in June 2019, mostly due to lower sales of electrical machinery, apparatus & appliances, and electrical parts thereof (-8.9 percent); telecommunications & sound recording and reproducing apparatus & equipment (-13.2 percent); and office machines & automatic data processing machines (-21.2 percent). Meanwhile, sales of miscellaneous manufactured articles increased 7.7 percent.

Exports to Asia as a whole dropped 8.4 percent, namely Thailand (-13.6 percent), the Mainland (-10.6 percent), South Korea (-8.4 percent), Malaysia (-7.8 percent), and Japan (-6.5 percent). On the other hand, exports went up to the Philippines (33.2 percent) and Taiwan (13.9 percent). Apart from destinations in Asia, export decreased to Germany (-14.4 percent) and the US (-6.6 percent).

Imports declined 7.5 percent to HKD 364.8 billion, mainly due to lower purchases of electrical machinery, apparatus & appliances, and electrical parts thereof (-8.9 percent); telecommunications & sound recording and reproducing apparatus & equipment (-14.7 percent); and office machines & automatic data processing machines (-17.5 percent). In contrast, purchases of power generating machinery and equipment advanced 27.8 percent.

Among major trading partners, imports fell from South Korea (-25.7 percent), India (-17.4 percent), Taiwan (-10.8 percent),  Malaysia (-9 percent), Thailand (-8.2 percent), and the Mainland (-2.3 percent). Meantime, imports rose from Switzerland (2.4 percent).

A Government spokesman said that the year-on-year decrease in the value of merchandise exports enlarged to 9.0% in June, as the soft global economic environment and continued US-Mainland trade tensions put further strains on manufacturing activities and trade flows in Asia. Exports to most major markets recorded declines of varying degrees. Looking ahead, the near-term performance of Hong Kong's merchandise exports will remain constrained by the softening global economy and uncertainties arising from US-Mainland trade tensions and other external developments. The Government will stay vigilant.


Census and Statistics Department of Hong Kong | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/25/2019 8:52:33 AM



Hong Kong Trade Last Previous Highest Lowest Unit
Balance of Trade -55200.00 -34700.00 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 364794.00 377774.00 428452.00 230.00 HKD Million [+]
Exports 309607.00 343065.00 383651.50 172.00 HKD Million [+]
Terms of Trade 99.80 100.10 108.50 99.00 Index Points [+]
Capital Flows -5018.00 -66114.00 22424.00 -89673.00 HKD Million [+]
Tourist Arrivals 5143734.00 5916541.00 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-55200.00 -34700.00 7228.00 -59898.00 1952 - 2019 HKD Million Monthly




Country Last Previous
Argentina 1061.00 Jun/19
Australia 8036.00 Jun/19
Brazil 2290.00 Jul/19
Canada 135.80 Jun/19
China 450.50 Jul/19
Euro Area 20611.70 Jun/19
France -5187.00 Jun/19
Germany 16821.00 Jun/19
India -13430.00 Jul/19
Indonesia -60.00 Jul/19
Italy 5728.50 Jun/19
Japan 589.46 Jun/19
Mexico 2561.00 Jun/19
Netherlands 5158.00 Jun/19
Russia 12508.00 Jun/19
Saudi Arabia 131636.00 Mar/19
Singapore 2831.10 Jul/19
South Africa 4419.50 Jun/19
South Korea 2441.00 Jul/19
Spain -2110200.00 May/19
Switzerland 3251.00 Jun/19
Turkey -3177.27 Jun/19
United Kingdom 1779.00 Jun/19
United States -55154.00 Jun/19


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