Hong Kong posts September trade deficit

Continued weakness in major export markets resulted in Hong Kong recording a trade deficit of HKS$45.2 billion in September.

The Census & Statistics Department reported imports for the month at HK$358.3 billion, a 14.9% rise year-on-year for September, while exports amounted to HK$313.2 billion, up 15.2% year-on-year. It noted that the deficit was equivalent to 12.6% of goods imports' value for September.

From January to September, the trade deficit increased to HK$342.9 billion, or 12% of goods imports' value.

Total export value in September was 0.6% higher than August. Within this total, re-exports' value rose 15.3% to HK$307.8 billion, while domestic exports' value increased 10.2% to HK$5.4 billion. September’s goods imports value was an increase of 0.9% from August.

For the first nine months, total goods exports' value rose 1.5% year-on-year. Of this total, re-exports' value increased 1.8%, while domestic exports' value fell 13.1%. Goods imports' value grew 2.5%.

Comparing September 2012 with September 2011, total exports to Asia grew 20.1%. Increases were also registered in the values of total exports to the US (9%) and the UK (5.1%), while a decrease was registered in the value of total exports to Germany (-9.7%).