Hong Kong June Exports Jump 53.4% On AI Demand

Hong Kong exports rose 53.4% year on year in June to HK$641.1 billion, the fastest annual growth pace in decades amid a global AI boom, according to RTHK. Imports increased 45.4% to HK$693 billion, leaving a visible trade deficit of HK$52 billion, or about 7.5% of the value of imports of goods. For the first half, total exports rose 39.1% year on year while imports increased 40.6%. A trade deficit of HK$294.6 billion was recorded in the period, equivalent to around 7.9% of total imports. A government spokesman said merchandise exports had continued to surge in June on strong global demand for AI-related electronic products. He added that robust demand for such products should continue to support Hong Kong's merchandise trade performance, though recent geopolitical tensions in the Middle East deserve attention. By region, outbound shipments to Asia as a whole jumped 54.4% in June. Exports to Singapore rose by around 83%, shipments to the mainland were up by nearly 60%, while those to the United States and Mexico increased 114.3% and 94.2%, respectively. Imports were also strong from South Korea, Vietnam and India, with their values up 176.7%, 106.8% and 95.4%, respectively. Exports of office machines and automatic data processing machines saw the biggest annual increase, rising 93.2%.