In December 2025, Hong Kong experienced a significant widening of its trade deficit, reaching USD 63.25 billion, up from USD 34.5 billion in December of the previous year. This marks the largest trade gap since September 2023. The surge in imports, which climbed 30.6% year-on-year to USD 576.05 billion, was largely attributed to increased purchases of electrical machinery, apparatus and appliances, as well as electrical parts, which rose by 27.9%, and telecommunications and sound recording and reproducing equipment, which surged by 59.6%. Notably, imports saw the most pronounced growth from Mainland China (33.9%), Taiwan (30.8%), and Singapore (17.2%).
On the export side, there was a 26.1% year-on-year increase to USD 512.8 billion. This growth was driven by a rise in shipments of electrical machinery and parts, which increased by 30.7%, and telecommunications and sound recording equipment, which showed a 46.8% gain. Exports witnessed the most significant growth towards Mainland China (24.9%), the United States (47.5%), and Vietnam (29.4%).
For the entirety of 2025, Hong Kong's cumulative trade deficit expanded to USD 446.6 billion, with exports and imports both growing 15.4% and 15.5%, respectively.