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Hong Kong's trade deficit increased to $33.1 billion in August 2024 from $25.6 billion in the corresponding month of the previous year, as imports grew more than exports. Year-on-year, imports increased 7.9% to $414.4 billion, primarily attributed to higher purchases of office machines and automatic data processing machines (79.6%), non-ferrous metals (63.8%), and professional scientific and controlling instruments and apparatus (19.4%). Meanwhile, exports rose at a softer 6.4% year-on-year to $381.3 billion, mainly due to increased sales of office machines and automatic data processing machines (43.5%), professional, scientific and controlling instruments and apparatus (18.3%), and power generating machinery and equipment (17.5%). Considering the first eight months of the year, the country’s trade deficit was $216 billion, with exports increasing by 11.5% and imports growing by 8% compared to the same period a year earlier.