Hong Kong Trade Deficit Widens in February

2026-03-26 08:56 By Mariene Camarillo 1 min. read

Hong Kong’s trade deficit widened sharply to $64.2 billion in February 2026 from $36.3 billion in the same month last year.

Imports surged 29.9% year-on-year to $472.9 billion, primarily driven by higher purchases of electrical machinery, apparatus and appliances, and elecrical parts thereof (30.5%), as well as non-ferrous metals (474.8%), and telecommunications and sound recording and reproducing apparatus and equipment (67.6%).

Imports rose the most from the United Kingdom (230.6%), India (130.8%), and Korea (113.6%).

Meanwhile, exports soared 24.7% year-on-year to $408.8 billion, largely driven by increased sales of electrical machinery, apparatus and appliances, and elecrical parts thereof (41.5%), along with telecommunications and sound recording and reproducing apparatus and equipment (41.5%), and non-ferrous metals (289.4%).

Exports recorded the largest gains to Malaysia (121.9%), Singapore (69.8%), Thailand (36.9%), Taiwan (33.4%), and Mainland China (21.9%).



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Hong Kong Trade Deficit Widens in February
Hong Kong’s trade deficit widened sharply to $64.2 billion in February 2026 from $36.3 billion in the same month last year. Imports surged 29.9% year-on-year to $472.9 billion, primarily driven by higher purchases of electrical machinery, apparatus and appliances, and elecrical parts thereof (30.5%), as well as non-ferrous metals (474.8%), and telecommunications and sound recording and reproducing apparatus and equipment (67.6%). Imports rose the most from the United Kingdom (230.6%), India (130.8%), and Korea (113.6%). Meanwhile, exports soared 24.7% year-on-year to $408.8 billion, largely driven by increased sales of electrical machinery, apparatus and appliances, and elecrical parts thereof (41.5%), along with telecommunications and sound recording and reproducing apparatus and equipment (41.5%), and non-ferrous metals (289.4%). Exports recorded the largest gains to Malaysia (121.9%), Singapore (69.8%), Thailand (36.9%), Taiwan (33.4%), and Mainland China (21.9%).
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Hong Kong recorded a trade deficit of $14.1 billion in January 2026, swinging from a surplus of $2.1 billion in the same month a year earlier. Imports surged 38.1% year-on-year to $534.7 billion, primarily driven by higher purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (44.8%), as well as telecommunications and sound recording and reproducing apparatus and equipment (80%). Imports rose the most from Mainland China (46.6%), Taiwan (3.3%), and Singapore (42.8%). Meanwhile, exports soared 33.8% year-on-year to a new record high of $520.6 billion, largely driven by increased sales of electrical machinery, apparatus and appliances, and electrical parts thereof (39.4%), along with telecommunications and sound recording and reproducing apparatus and equipment (51.9%). Exports recorded the largest gains to Mainland China (40.6%), the US (23.3%), Taiwan (88.8%), and Vietnam (31.0%).
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Hong Kong Trade Deficit Largest Since 2023
Hong Kong’s trade deficit widened sharply to $63.25 billion in December 2025, from $34.5 billion in the same month a year earlier, marking the largest trade gap since September 2023. Imports surged 30.6% year-on-year to an all-time high of $576.05 billion, mainly driven by higher purchases of electrical machinery, apparatus, and appliances, and electrical parts (27.9%), and telecommunications and sound recording and reproducing equipment (59.6%). Imports rose the most from China (33.9%), Taiwan (30.8%), and Singapore (17.2%). Meanwhile, exports increased 26.1% year-on-year to a record peak of $512.8 billion, supported by higher shipments of electrical machinery and parts (30.7%) and telecommunications and sound recording equipment (46.8%). Exports recorded the largest gains to China (24.9%), the US (47.5%), and Vietnam (29.4%). For the full year of 2025, Hong Kong’s trade deficit reached $446.6 billion, with exports rising 15.4% and imports increasing 15.5%.
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