Hong Kong Trade Gap Widens In May

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

The trade shortfall rose to HK$44.2 billion in May from HK$27.3 billion in the same month last year. In April, the trade balance showed a deficit of HK$29.5 billion.

Exports climbed 40.8 percent year-on-year in May, and imports surged by 42.0 percent. The overall upturn in exports was underpinned by strong global demand for AI-related electronic products.

A visible trade deficit of HK$44.2 billion, equivalent to 6.7 percent of the value of imports of goods, was recorded in May 2026, the agency said.

Exports to Mainland China were 48.5 percent higher compared to last year. Total outflows to Asia as a whole expanded 44.6 percent. Within this, exports to Singapore grew the most by 114.2 percent, followed by Taiwan with a 90.2 percent rise.

Apart from destinations in Asia, shipments to the USA and the United Kingdom increased by 55.7 percent and 61.7 percent, respectively.

Meanwhile, imports from Korea jumped by 107.4 percent, and those from India grew by 95.2 percent. The country imported 76.5 percent more from Vietnam.

"Looking ahead, the still-vibrant global demand for AI-related electronic products should continue to support Hong Kong's merchandise trade performance," a government spokesman said.

The spokesman added that the recent easing of geopolitical tensions in the Middle East has provided short-term relief to the global economic outlook, but headwinds prevail and the government will stay vigilant to external risks.