Hong Kong’s trade deficit narrowed to $25.4 billion in August 2025 from $33.1 billion in the same month last year. Exports rose 14.5% year-on-year to $436.6 billion, driven by strong growth in electrical machinery and equipment (15.7%) and telecommunications and audio equipment (23.9%). Exports expanded to both Asian and non-Asian markets, notably the US (+17.3%), UK (+55.8%), Netherlands (+65.7%), Malaysia (+73.6%), and Vietnam (+54.3%). Imports increased 11.5% to $462.0 billion, led by higher purchases of electrical machinery and related parts (15.2%) and telecommunications and audio-visual equipment (32.4%). Import growth was strongest from Vietnam (+80.8%), Malaysia (+14.6%), Japan (+13.3%), the Mainland China (+12.4%), and Taiwan (+5.5%), while imports from Korea declined (-11.5%). For the first eight months of 2025, the cumulative trade deficit reached $243.3 billion, with both exports and imports up 13.0% year-on-year.