Hong Kong’s merchandise exports surged 50.7% year on year to HK$672.5 billion in July 2026, according to figures released by the Census and Statistics Department on 25 August. Imports also rose sharply, increasing 41.0% to HK$677.4 billion.
The increase in exports followed a 53.4% year-on-year rise in June, while import growth eased from 45.4% in June. Despite the strong performance, Hong Kong recorded a merchandise trade deficit of HK$4.9 billion in July, equal to 0.7% of merchandise imports.
The government attributed the export performance mainly to robust demand for AI-related electronic products. It said global demand for those goods was expected to continue supporting Hong Kong’s merchandise trade performance.
For the first seven months of 2026, exports increased 40.9% from the same period a year earlier, while imports grew 40.6%. Hong Kong’s cumulative merchandise trade deficit reached HK$299.4 billion, equivalent to 6.8% of the value of imports during the period.
A government spokesman warned that geopolitical tensions in the Middle East, trade protectionism among advanced economies and the rapid expansion of global investment in AI could pose downside risks. The government nevertheless expects demand for AI-related goods to continue supporting trade performance.