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 its export trade, with the value of goods shipped out increasing by a remarkable 50.7 percent compared to the previous year. According to data released by the Census and Statistics Department on Tuesday, the total export value reached an impressive HK$672.5 billion. This followed a surge of over 53 percent in export growth the previous month.
The city's imports also saw a rise, with the value of goods brought in increasing by 41 percent, reaching HK$677.4 billion in July. Over the first seven months of the year, Hong Kong's exports recorded a 40.9 percent increase, while imports rose by 40.6 percent. This resulted in a trade deficit of HK$299.4 billion, or 6.8 percent of the value of Hong Kong's imports during the seven-month period.
A government spokesman praised the "impressive growth" in exports of AI-related electronic products, attributing the strong performance to robust global demand. However, the spokesman cautioned 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 to Hong Kong's merchandise trade performance.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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