HK exports surge to nearly all major markets
Hong Kong recorded year-on-year increases in both exports and imports last month, with the outflow to almost all major markets seeing a sharp surge, the government said. Figures released by the Census and Statistics Department on Thursday showed that the value of total exports of goods increased by 53 percent over a year earlier to HK$667.9 billion in August. This came after a year-on-year…
Hong Kong's exports surged to almost all major markets in August, according to government figures released on Thursday. The value of total exports increased by 53 percent year-on-year, reaching HK$667.9 billion. This followed a 50.7 percent year-on-year increase in July. Imports also rose by 60 percent to HK$739.1 billion, up from a 41 percent increase in July.
Over the first eight months of the year, Hong Kong's exports grew by 42.5 percent, while imports rose by 43.2 percent. A trade deficit of HK$371.2 billion, or 7.2 percent of imports, was reported. The surge in exports was attributed to robust demand for AI-related electronic products. A government spokesman stated that exports to major markets continued to increase, and sustained global demand for AI products was expected to support Hong Kong's trade performance.
However, he cautioned that geopolitical tensions and protectionist measures among advanced economies could pose uncertainties for the external environment.
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