Macroeconomic Forecast Hong Kong

Hong Kong's trade deficit narrowed to US$2.5bn in February from US$3.8bn in January, with imports coming in at US$26.1bn (up 22.4% y-o-y) and exports at US$23.5bn (up 28.6% y-o-y). As a result, total trade values rose an impressive 25.3% y-o-y. We see the full-year 2010 trade deficit coming in at US$26.7bn (12.1% of GDP) up from US$21.4bn (10.1% of GDP) in 2009. Interestingly, exports of domestically produced goods continue to decline, registering the second lowest figure on record at US$4.1bn in February as the island's good-producing industries continue to suffer from a loss of competitiveness.

To read the full article, please choose one of the following options: