Hong Kong's trade deficit decreased to $34.5 billion in December 2024, down from $59.9 billion in the same month a year earlier.
Hong Kong trade deficit narrows in December 2024
Exports rose by 5.2% year-on-year to $406.7 billion, driven by significant growth in sales of office machines and automatic data processing machines (52.1%), power-generating machinery and equipment (10.1%), and electrical machinery, apparatus, appliances, and their parts (8.3%). In contrast, imports declined by 1.1% year-on-year to $441.2 billion, mainly due to reduced purchases of professional, scientific, and controlling instruments (-23.6%), non-metallic mineral manufactures (-22.7%), and petroleum and related products (-14.9%).
HK 2024 trade deficit hits $379.7B as exports grow 8.7%
For 2024, the trade deficit stood at $379.7 billion, with exports increasing by 8.7% and imports rising by 6% compared to the previous year.
