Hong Kong June Exports Rise 53.4%, Imports Up 45.4%; Trade Deficit 52 Billion HKD
Hong Kong's merchandise exports rose 53.4% year-on-year in June to 641.1 billion HKD, while imports increased 45.4% to 693.0 billion HKD, resulting in a trade deficit of 52.0 billion HKD, equivalent to 7.5% of imports. For the first half of the year, exports grew 39.1% and imports rose 40.6%, with a deficit of 294.6 billion HKD or 7.9% of imports. Exports to Asia jumped 54.4%, with strong gains to Singapore (83%), Taiwan (79.9%), mainland China (59.2%), Vietnam (55.9%), and Thailand (52.3%). Shipments to the US surged 114.3% and to Mexico 94.2%.
In June, the visible trade deficit was 52.0 billion HKD, equivalent to 7.5% of the value of goods imports.
In the first half of the year, the overall value of goods exports rose 39.1% year-on-year, while goods imports increased 40.6%. The visible trade deficit for the first half was 294.6 billion HKD, representing 7.9% of the value of goods imports. On a year-on-year basis in June, exports to Asia rose 54.4%, with growth of 83% to Singapore, 79.9% to Taiwan, 59.2% to mainland China, 55.9% to Vietnam, and 52.3% to Thailand. Exports to the United States jumped 114.3%, and exports to Mexico increased 94.2%.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for Shipping & Ports, with intensity 60/100 and 75% confidence over a short term horizon.
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.