Hong Kong exports surged by 50.7 per cent year on year in July, driven by “impressive growth” in artificial intelligence-related electronic products, with the government expecting the robust demand to continue supporting trade development despite geopolitical risks.
Provisional figures released by the Census and Statistics Department on Tuesday showed that the value of exports jumped to HK$672.5 billion (US$86.2 billion) last month after a 53.4 per cent rise in June.
A government spokesman attributed July’s strong performance to growth in AI-related electronics and a visible increase in exports to most major markets.
“The value of merchandise exports grew by 50.7% over a year earlier, with exports of AI-related electronic products again registering particularly impressive growth,” he said.
The spokesman said global demand for AI-related electronic products was expected to continue to bolster the city’s exports, but warned of geopolitical risks in the Middle East and rising trade protectionism in some advanced economies.
Imports rose by 41 per cent year on year to HK$677.4 billion last month. The city still recorded a trade deficit of HK$4.9 billion, equivalent to 0.7 per cent of import value.
In July, total exports to Asia grew by 54.6 per cent, with notable increases to most major destinations, in particular, a 95.7 per cent rise to Taiwan, 77.7 per cent to Vietnam and 63.1 per cent to Thailand.
