Hong Kong’s trade deficit narrowed sharply to $4.9 billion in July 2026 from $34.1 billion a year earlier, marking the smallest gap since the last recorded surplus in January 2025. Exports surged 50.7% year-on-year to an all-time high of $672.5 billion, driven primarily by robust demand for electrical machinery, apparatus and appliances, and electrical parts thereof (up 54%), as well as office machines and automatic data processing machines (up 106.5%). Shipments to Asian economies rose 54.6%, while exports to other major markets also strengthened, including the United States (up 92.9%) and Mexico (up 48.9%).
Imports increased 41% to $677.4 billion, supported by higher purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (up 47.1%), office machines and automatic data processing machines (up 78.9%), and non-ferrous metals (up 242.5%). Import growth was particularly pronounced from Mainland China (up 37.1%), South Korea (up 146.6%) and India (up 110.7%). Over the first seven months of 2026, Hong Kong’s cumulative trade deficit reached $299.4 billion.
