HK posts US$64.6b trade deficit in 2013
Print Edition
Hong Kong saw a 3.6 percent rise in the value of total exports of goods in 2013 from 2012 while that for the imports of goods gained 3.8 percent, the city’s Census and Statistics Department said yesterday.
The value of re-exports increased by 3.8 percent while the value of domestic exports fell by 7.6 percent. A visible trade gap of HK$501 billion (US$64.6 billion), equivalent to 12.3 percent of the value of imports of goods, was recorded in 2013.
In December alone, the value of total exports of goods remained flat from a year earlier at HK$310.9 billion, after an on-year rise of 5.8 percent in November. Of the total, re-exports accounted for HK$306.3 billions, up by 0.1 percent, whereas domestic exports shrank by 7.9 percent to HK$4.6 billion.
Meanwhile, the value of imports of goods added by 1.8 percent over a year earlier to HK$365.2 billion, after an on-year gain of 5.2 percent in November. A visible trade deficit of HK$54.4 billion, equivalent to 14.9 percent of the value of imports of goods, was recorded in the month.
Last year, an annual increase was seen in the value of exports to some major destinations, with that to Vietnam rising 15.5 percent, that to South Korea, up 9 percent, that to India, up 7.9 percent, and that to the Chinese mainland, up 4.9 percent.
However, the value of exports to Japan shed 6.1 percent, that to Germany fell 5.1 percent, and that to Taiwan off 4.3 percent.
Compared with 2012, the value of imports from the United States jumped 7.4 percent last year, that from Taiwan rose 6. 9 percent, and that from India rose 6.7 percent.
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