Exports of artificial intelligence (AI)-related electronic products registered strong growth, sustaining the upward momentum of Hong Kong’s foreign trade. Both Hong Kong’s export and import performance in September outperformed expectations. According to data released by the Census and Statistics Department of the Hong Kong SAR Government on the 28th, Hong Kong’s total merchandise exports in September amounted to HK$762.6 billion, a year-on-year rise of 64.9%; merchandise imports stood at HK$808.9 billion, up 57.8% year on year. A visible trade deficit of HK$46.3 billion was recorded for the month, equivalent to 5.7% of the value of merchandise imports.

For the first nine months of the year, the total value of merchandise exports increased by 45.2% from the same period last year, while imports grew by 45%. The visible trade deficit for January–September reached HK$417.7 billion, accounting for 7% of the value of merchandise imports. After seasonal adjustment, the total value of merchandise exports in the third quarter rose by 8.8% quarter-on-quarter, and imports increased by 7.9%.

Analysed by market, total merchandise exports to Asia in September climbed 67.5% year on year. Most major destinations within the region saw growth: exports to Chinese Taiwan surged 159.3%, Malaysia 131.5%, Thailand 118%, Singapore 77.5%, and the Chinese mainland 68.1%. Outside Asia, exports to Mexico jumped 148.1% and those to the United States rose 133.4%. On the import side, arrivals from South Korea shot up 231.1%, Vietnam 118.7%, Malaysia 73.9%, India 61.3%, and the Chinese mainland 55.6%.

In the first nine months, exports to Chinese Taiwan grew by 82.2%, Singapore 81.8%, the United States 70.7%, Thailand 64.2%, Malaysia 62.3%, and the Chinese mainland 49.4%. Among import sources, supplies from South Korea rose 151.7%, India 98.5%, the United Kingdom 78.6%, Vietnam 77.5%, Malaysia 52.4%, and the Chinese mainland 46.1%.

A government spokesperson stated that merchandise exports soared by a further 64.9% year on year in September by value, marking the 20th consecutive month of double-digit growth and the sharpest monthly year-on-year increase in over 40 years, with exports to all major markets rising markedly.

Looking ahead, the spokesperson noted that Hong Kong’s merchandise trade will continue to benefit from the current robust investment boom in AI and resilient global economic growth. That said, external uncertainties deserve close attention, including conflicts in the Middle East, trade protectionist measures by major economies, and risks stemming from the rapid expansion of global AI investment.

Source: Reproduced from the WeChat official account of Hong Kong Commercial Daily.