Hong Kong trade deficit decreased to HKD 29.601 billion in July of 2017 from a HKD 33.3 billion shortfall a year earlier.
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It is the smallest trade gap since January (HKD -12.345 billion).
Exports went up 7.3%, lower than a 11.1% gain in June, driven by sales to China and major Asian markets.
Imports rose at a slower 5.5%, after a 10.4% increase in June. Comparing the three-month period ending in July 2017 with the preceding three months, exports decreased 1.8% and imports fell 1%.
Year-on-year, exports increased 7.3% to HKD 326.6 billion in July of 2017, after an increase of 11.1% in the previous month. Exports to Asia as a whole went up by 8.8%, mainly to Philippines (26.7%); Taiwan (23.5%); Thailand (12.7%); Japan (9%); China (8.8%) and Singapore (7.8%).
Apart from destinations in Asia, an increase was registered in exports to Germany (6.7%) while declines were seen to the United Kingdom (-4.9%) and the United States (-0.6%).
By commodity, exports advanced for: electrical machinery, apparatus and appliances, and electrical parts thereof (13.6%); professional, scientific and controlling instruments and apparatus (28.4%) and office machines and automatic data processing machines (6.0%).
However, sales of articles of apparel and clothing accessories fell 12.3%.
Imports rose 5.5% to HKD 356.2 billion in July of 2017, after a 10.4% gain in the preceding month. Increases were recorded from Philippines (28.9%); Malaysia (25.4%); Korea (23.6%); Singapore (18.1%) and China (4%) while purchases declined from India (-21.2%); Thailand (-4.8%) and Japan (-4.4%).
By commodity, imports grew for: electrical machinery, apparatus and appliances, and electrical parts thereof (10.3%); office machines and automatic data processing machines (9.0%) and professional, scientific and controlling instruments and apparatus (16.6%).
In contrast, a decrease was registered in imports of telecommunications and sound recording and reproducing apparatus and equipment (-5.3%).
For the first seven months of 2017 as a whole, exports rose 8.5% over the same period in 2016 and imports surged 8.7%. ■