FX.co ★ Hong Kong Trade Deficit Largest Since 1952

Hong Kong’s trade deficit widened sharply to $89.1 billion in March 2026, up from $45.4 billion in the same month a year earlier, marking the largest shortfall since records began in January 1952.

Imports surged 41.2% year-on-year to a record $70.7 billion, driven by broad-based increases across most major commodity categories. The strongest gains were seen in electrical machinery, apparatus and appliances, and electrical parts thereof (up 49.5%), as well as telecommunications and sound recording and reproducing apparatus and equipment (up 93%). By origin, imports rose most markedly from the UK (118.5%) and Korea (112.2%).

Exports also posted robust growth, rising 35.8% to an all-time high of $61.8 billion. This expansion was underpinned by strong shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (up 47.9%), alongside telecommunications and sound recording and reproducing apparatus and equipment (up 94.7%). Exports to Asia advanced 37.8%, while other key growth markets included the US (80.8%) and the Netherlands (37.1%).