FX.co ★ Hong Kong Trade Deficit Widens Sharply

Hong Kong’s trade deficit widened sharply to HKD 44.2 billion in May 2026, up from HKD 27.3 billion in the same month a year earlier. Imports jumped 42.0% year-on-year to HKD 655.4 billion, driven mainly by stronger purchases of electrical machinery, apparatus and appliances and related parts (up 51.6%), telecommunications and sound recording equipment (up 61.2%), and office machines and automatic data-processing equipment (up 44.5%).

By origin, imports recorded the strongest growth from Mainland China (up 51.2%), followed by Taiwan (up 20.3%), Singapore (up 24.7%), and Vietnam (up 76.5%).

Meanwhile, exports increased 40.8% from a year earlier to HKD 611.2 billion, a three-month low in value terms, underpinned by solid demand for electrical machinery, apparatus and appliances and related parts (up 56.1%), office machines and automatic data-processing equipment (up 50.2%), and telecommunications and sound recording equipment (up 37.6%). Exports to Asia rose 44.6%, while shipments to other major markets, including the UK (up 61.7%) and the US (up 55.7%), also strengthened.