Here's what to expect from Hong Kong's December trade data

Trade deficit is pegged at $47.5b.

According to DBS, December trade data will likely remain soft. Export and import growth are projected to be 2.8% YoY and 2.3% respectively, putting the monthly trade deficit at HKD 47.5bn. 

This means that both exports and imports would have grown just 3.9% in 2013, compared to the five-year trend rate of 6-7%.

Here's more from DBS:

Prospects should brighten in 2014 as global growth picks up gradually. The EU has stabilized - export growth to the region has turned positive beginning last June, and averaged 4.4% in the past three months, compared to -0.6% to the USA.

That said, export growth to the USA should pick up beginning 1Q14 as its economy is already showing signs of improvement. For 2014, exports and imports are projected to grow 5% and 6% respectively.