Hong Kong Trade Gap Widens In March

(RTTNews) - Hong Kong's trade deficit increased notably in March from a year ago as imports grew faster than exports, data from the Census and Statistics Department showed on Tuesday.

The trade shortfall rose to HK$89.1 billion in March from HK$45.4 billion in the same month last year. In February, the trade balance showed a deficit of HK$64.1 billion.

Exports climbed 35.8 percent year-on-year in March, and imports surged by 41.2 percent. The overall growth in exports was driven by global demand for AI-related electronic products. 

A visible trade deficit of HK$89.1 billion, equivalent to 12.6 percent of the value of imports of goods, was recorded in March 2026, the agency said.

Exports to Mainland China were 39.5 percent higher compared to last year. Total outflows to Asia as a whole expanded 37.8 percent. Within this, exports to Singapore grew the most by 125.0 percent, followed by Malaysia with a 62.3 percent rise.

Apart from destinations in Asia, shipments to the USA and the Netherlands increased by 80.8 percent and 37.1 percent, respectively.

Meanwhile, imports from the United Kingdom jumped by 118.5 percent, and those from Korea grew by 111.2 percent. The country imported 88.1 percent more from India.

"Looking ahead, the heightened geopolitical tensions in the Middle East have led to an upsurge in international energy prices, posing downside risk to the near-term global economic outlook, with potential disruptions to global trade flows and supply chains," a government spokesman said. 

"Nonetheless, global demand for AI-related electronic products remains robust and should provide staunch support to the performance of Hong Kong's merchandise exports."