Hong Kong Trade Deficit at 3-Month Low

Hong Kong’s trade deficit widened to $29.5 billion in April 2026 from $16 billion in the same month a year earlier, though it remained the smallest gap since January. Exports surged 42.9% year-on-year to a record $620.9 billion, driven by strong shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (49.5%), as well as telecommunications and sound recording and reproducing apparatus and equipment (54.6%). Exports to Asia jumped 43.7%, while shipments to other major destinations also rose sharply, including the US (37.5%) and the UK (88.8%). Meanwhile, imports climbed 44.4% to $650.4 billion, supported by higher purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (46.8%), telecommunications and sound recording and reproducing apparatus and equipment (62.1%), and miscellaneous manufactured articles (95.4%). Imports increased most from Mainland China (46.8%), the UK (80.5%), and South Korea (117.4%).

Hong Kong’s trade deficit widened sharply to $89.1 billion in March 2026 from $45.4 billion in the same month a year earlier, marking the largest trade gap since records began in January 1952. Imports climbed 41.2% year-on-year to an all-time high of $70.7 billion, largely reflecting higher purchases across most principal commodity divisions, particularly electrical machinery, apparatus and appliances, and electrical parts thereof (49.5%) and telecommunications and sound recording and reproducing apparatus and equipment (93%). Imports rose most strongly from the UK (118.5%) and Korea (112.2%). Meanwhile, exports increased 35.8% to a record $61.8 billion, supported by solid growth in shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (47.9%) and telecommunications and sound recording and reproducing apparatus and equipment (94.7%). Shipments to Asia grew 37.8%, while other key destinations included the US (80.8%) and the Netherlands (37.1%).

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%).