Hong Kong Trade Deficit Largest Since 1952

Hong Kong’s trade deficit narrowed sharply to $4.9 billion in July 2026 from $34.1 billion a year earlier, marking the smallest trade gap since a surplus in January 2025. Exports surged 50.7% year-on-year to a record $672.5 billion, driven mainly by stronger sales of electrical machinery, apparatus and appliances, and electrical parts thereof (54%) and office machines and automatic data processing machines (106.5%). Exports to Asia jumped 54.6%, while shipments to other key markets such as the US (92.9%) and Mexico (48.9%) also recorded gains. Meanwhile, imports rose 41% to $677.4 billion, fueled by increased purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (47.1%), office machines and automatic data processing machines (78.9%) and non-ferrous metals (242.5%). Imports were particularly strong from Mainland China (37.1%), South Korea (146.6%) and India (110.7%). In the first seven months of 2026, Hong Kong’s trade deficit totaled $299.4 billion.

Hong Kong's trade deficit narrowed to $52 billion in June 2026 from $58.9 billion in the same month a year earlier. Exports surged 53.4% year-on-year to an all-time high of $641.1 billion, driven mainly by stronger shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (57.2%), and office machines and automatic data processing machines (93.2%). Exports to Asia rose 54.4%, while shipments to other key markets, such as the US (114.3%) and Mexico (94.2%), also increased. Meanwhile, imports climbed 45.4% from a year earlier to a three-month high of $693 billion, supported by higher purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (54.2%) and telecommunications and sound recording and reproducing apparatus and equipment (67.3%). Import growth was particularly strong from Mainland China and Hong Kong (41.0%) and South Korea (176.7%). During the January–June period, the total trade deficit reached $294.6 billion.

Hong Kong's trade deficit widened sharply to HKD 44.2 billion in May 2026 from HKD 27.3 billion in the same month a year earlier. Imports surged 42.0% year-on-year to HKD 655.4 billion, driven by higher purchases of electrical machinery, apparatus and appliances and related parts (51.6%), telecommunications and sound recording equipment (61.2%), and office machines and automatic data-processing equipment (44.5%). Imports grew the most from Mainland China (51.2%), followed by Taiwan (20.3%), Singapore (24.7%), and Vietnam (76.5%). Meanwhile, exports rose 40.8% from a year earlier to a three-month low of HKD 611.2 billion, supported by robust demand for electrical machinery, apparatus and appliances and related parts (56.1%), office machines and automatic data-processing equipment (50.2%), and telecommunications and sound recording equipment (37.6%). Exports to Asia expanded 44.6%, while sales to other major markets, such as the UK (61.7%) and the US (55.7%), also strengthened.