Hong Kong August Exports Stay Near Record High On AI Demand

Hong Kong’s export growth carried into August, with provisional official data showing outbound shipments reached HK$667.9 billion, the second-highest level on record after July’s peak.

AI-related demand keeps exports elevated

The value of exports rose by 53 per cent to HK$667.9 billion (US$85.6 billion) in August, supported by strong demand for artificial intelligence-related products.

The latest increase followed a 50.7 per cent surge in July, according to provisional figures released by the Census and Statistics Department on Thursday.

August’s export value was behind only the all-time high of HK$672.51 billion recorded in July.

The recent strength in Hong Kong’s exports therefore extended for another month, with AI-related electronic products remaining a key driver of the rise.

Imports rise faster, trade deficit widens

Imports also climbed sharply in August, rising 60 per cent to HK$739.1 billion.

That left Hong Kong with a trade deficit of HK$71.2 billion for the month.

The deficit was equivalent to 9.6 per cent of the value of imports of goods in August, the provisional figures showed.

The data matters because it shows exports remained near record levels even as imports grew at a faster pace, keeping the city in deficit for the month.

Source: South China Morning Post