Hong Kong exports jump 50.7% in July, driven by growth in AI-related electronics

In July, Hong Kong's exports soared by 50.7% year-on-year, fueled by a surge in artificial intelligence-related electronic products. The government anticipates this robust demand to maintain trade development despite geopolitical risks. Provisional data from the Census and Statistics Department revealed that exports reached HK$672.5 billion (US$86.2 billion) in July, marking a significant 53.4% increase from June.

The spokesman credited the strong performance to growth in AI-related electronics and heightened exports to major markets. He forecasted continued demand for AI-related electronic products to boost Hong Kong's exports. However, he cautioned about geopolitical risks in the Middle East and rising trade protectionism in some advanced economies.

Imports climbed by 41% year-on-year to HK$677.4 billion, resulting in a trade deficit of HK$4.9 billion, or 0.7% of imports. Hong Kong's exports to Asia grew by 54.6%, with notable increases to Taiwan (95.7%), Vietnam (77.7%), and Thailand (63.1%). The city's trade deficit remains at 0.7% of import value. In June, exports surged by 53.4% year-on-year to a record HK$641.1 billion, the fastest monthly growth since March 1984.

In the first half of 2026, exports rose by 39.1% year-on-year, while imports increased by 40.6%, leading to a trade deficit of HK$294.6 billion. Hong Kong's economy grew by 5.1% year-on-year in the first half, its strongest performance in nearly five years. The government raised its full-year growth forecast to 3.5-4.5%, citing stronger-than-expected first-half performance and sustained global demand for AI-related products.