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Hong Kong's trade deficit narrowed to $50.2 billion in September 2025, from $53.2 billion in the same month of the previous year. Exports increased by 16.1% yoy to a nearly four-year high of $462.2 billion, mainly driven by higher sales of non-ferrous metals (75.4%), power-generating machinery and equipment (48.7%), and electrical machinery, apparatus and appliances, and electrical parts thereof (22.8%). Exports rose the most to Vietnam (50.9%), India (19.5%), and China (16.7%). Meanwhile, imports grew 13.6% to a nearly four-year high of $512.5 billion, mainly due to increased purchases of miscellaneous manufactured articles (33.6%) and photographic apparatus, equipment and supplies, optical goods, watches and clocks (25.6%). Imports increased the most from United Kingdom (+70.3%), Vietnam (68.7%), Singapore (33.2%), and China (19.4%). For the first nine months of the year, the cumulative trade deficit reached $293.9 billion, with exports rising by 13.4% and imports growing by 13.1%.