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Hong Kong’s trade deficit widened to $34.1 billion in July 2025 from $21.9 billion in the same month last year. Exports rose 14.3% year-on-year to $446.3 billion, driven by strong growth in sales of electrical machinery and equipment (22.8%), and telecommunications and audio equipment (32.0%). Exports to Asia as a whole surged 19.3%, while shipments to non-Asian markets declined, particularly to the US (-7.6%) and the Netherlands (-42.1%). Meanwhile, imports increased 16.5% to $480.4 billion, mainly due to higher purchases of electrical machinery and related parts (21.9%), and telecommunications and audio-visual equipment (49.8%). Imports from most major suppliers recorded strong growth, led by Vietnam (+129.3%), Thailand (+33.1%), Singapore (+28.7%), and the UK (+24.8%). For the first seven months of 2025, the cumulative trade deficit reached $218.6 billion, with exports up 12.7% and imports up 13.2% compared to the same period last year.