Hong Kong’s trade deficit narrowed sharply to $4.9 billion in July 2026 from $34.1 billion a year earlier, marking the smallest trade gap since a surplus in January 2025. Exports surged 50.7% year-on-year to a record $672.5 billion, driven mainly by stronger sales of electrical machinery, apparatus and appliances, and electrical parts thereof (54%) and office machines and automatic data processing machines (106.5%). Exports to Asia jumped 54.6%, while shipments to other key markets such as the US (92.9%) and Mexico (48.9%) also recorded gains. Meanwhile, imports rose 41% to $677.4 billion, fueled by increased purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (47.1%), office machines and automatic data processing machines (78.9%) and non-ferrous metals (242.5%). Imports were particularly strong from Mainland China (37.1%), South Korea (146.6%) and India (110.7%). In the first seven months of 2026, Hong Kong’s trade deficit totaled $299.4 billion.