HK exports surge by more than 50pc in July
Hong Kong saw year-on-year increases in the value of both its exports and imports in July as demand for AI-related products helped boost the city's trade performance. According to the latest data from the Census and Statistics Department on Tuesday, the value of the city's total exports of goods rose 50.7 percent, compared with a year earlier, to HK$672.5 billion. The increase came after a…
In July, Hong Kong experienced a surge in exports, with the value of goods increasing by more than 50 percent year-on-year. This growth, driven by the popularity of AI-related products, resulted in a total export value of HK$672.5 billion. The previous month, July, saw a 53 percent increase in exports compared to June. Imports also rose, by 41 percent to HK$677.4 billion.
Over the first seven months of the year, exports increased by 40.9 percent and imports by 40.6 percent. The city recorded a trade deficit of HK$299.4 billion, equivalent to 6.8 percent of imported goods. A government spokesman attributed the impressive growth to robust global demand for AI-related electronics, but cautioned that geopolitical tensions, trade protectionism and AI investment expansion could pose risks to Hong Kong's trade performance.
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