Trade Balance in Hong Kong
Hong Kong - Trade BalancePolitical turbulence continued to ravage the economy in the third quarter, after Q2 growth slumped to the weakest pace since the global financial crisis in 2009. In August, annual retail sales plunged 25.3%, marking the steepest fall since current records began. In the same month, tourist arrivals, and particularly those from mainland-China, plummeted, boding poorly for retail sales and the external sector; in Q3, the manufacturing PMI averaged significantly lower than in Q2, due to subdued demand from China. Moreover, the Hang Seng property and construction composite index dipped in recent months and annual new mortgage loans declined in August, boding poorly for the all-important real estate sector. On 16 September, Moody’s consequently downgraded its outlook from stable to negative, days after Fitch axed the country’s default credit rating.
Hong Kong - Trade Balance Data
|Trade Balance (USD billion)||-64.8||-70.9||-57.1||-54.5||-61.9|
5 years of economic forecasts for more than 30 economic indicators.
Hong Kong Trade Balance Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
|Bond Yield||1.04||3.38 %||Sep 04|
|Exchange Rate||7.84||-0.11 %||Sep 04|
|Stock Market||26,523||-1.92 %||Sep 04|
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November 5, 2019
The IHS Markit Purchasing Managers’ Index (PMI), dropped to 39.3 in October from 41.5 in September—the lowest reading since November 2008. October’s deterioration was mainly the result of new orders falling at the steepest pace since January 2009, led by a record decrease in new orders from mainland China.
October 31, 2019
The preliminary GDP reading showed the economy contracted at the sharpest pace since June 2009 in the third quarter, as Hong Kong faced the double whammy of mass protests battering domestic demand and the U.S.-China trade war hampering the external sector.
October 22, 2019
Inflation ticked down to 3.2% in September from 3.5% in August.
October 4, 2019
The IHS Markit Purchasing Managers’ Index (PMI), ticked up from 40.8 in August to 41.5 in September; however, the index remained mired in a sharp downturn as the average PMI for the third quarter was lowest since the height of the global financial crisis approximately a decade ago. September’s uptick was mainly the result of softer, albeit still significant, declines in new orders and output—the second-steepest deteriorations since early 2009.
October 2, 2019
Retail sales volume plunged 25.3% year-on-year in August, a significant deterioration from July’s revised 13.1% contraction (previously reported: -13.0% year-on-year).