Hong Kong Balance Commerciale

Hong Kong's trade deficit widened to $48.5 billion in November 2025, from $43.4 billion in the same month of the previous year. Exports rose 18.8% year-on-year to $468.9 billion, mainly driven by higher sales of electrical machinery, apparatus and appliances, and electrical parts thereof (+15.9%) and telecommunications and sound recording and reproducing apparatus and equipment (+36.8%). Exports rose the most to US (+44.4%), Malaysia (+72.0%), Vietnam (+54.9%), and Netherlands (+36.4%). Meanwhile, imports grew 18.1% to $517.4 billion, mainly due to increased purchases of electrical machinery, apparatus and appliances, and electrical parts thereof (+16.9%) and telecommunications and sound recording and reproducing apparatus and equipment (+34.3%). Imports increased the most from Vietnam (+102.3%), Malaysia (+21.5%) and the US (+17.8%). For the first eleven months of the year, the cumulative trade deficit reached $382.8 billion, with exports rising by 14.3% and imports growing by 14.1%.