Hong Kong’s trade deficit widened sharply to $64.2 billion in February 2026 from $36.3 billion in the same month last year. Imports surged 29.9% year-on-year to $472.9 billion, primarily driven by higher purchases of electrical machinery, apparatus and appliances, and elecrical parts thereof (30.5%), as well as non-ferrous metals (474.8%), and telecommunications and sound recording and reproducing apparatus and equipment (67.6%). Imports rose the most from the United Kingdom (230.6%), India (130.8%), and Korea (113.6%). Meanwhile, exports soared 24.7% year-on-year to $408.8 billion, largely driven by increased sales of electrical machinery, apparatus and appliances, and elecrical parts thereof (41.5%), along with telecommunications and sound recording and reproducing apparatus and equipment (41.5%), and non-ferrous metals (289.4%). Exports recorded the largest gains to Malaysia (121.9%), Singapore (69.8%), Thailand (36.9%), Taiwan (33.4%), and Mainland China (21.9%).