The value of Hong Kong's total exports surged 24.7 percent year-on-year to HK$408.8 billion ($52.25 billion) in February after rising 33.8 percent in January, official data showed on Thursday.

The value of the city’s total imports last month also rose 29.9 percent year-on-year to HK$472.9 billion last month. A visible trade deficit of HK$64.2 billion, equivalent to 13.6 percent of the value of imports of goods, was recorded during the same period, according to data from the Census and Statistics Department.

Comparing the three-month period ending February with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 15.8 percent while the value of imports of goods rose 17.7 percent.

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Comparing February 2026 with February 2025, total exports to Asia grew by 23.4 percent. Increases were recorded in the values of total exports to most major destinations, in particular Malaysia (121.9 percent), Singapore (69.8 percent), Thailand (36.9 percent), Taiwan region (33.4 percent) and the Chinese mainland (21.9 percent).

The values of total exports also rose to most major destinations in other regions, including Switzerland (78.9 percent), the Netherlands (68.3 percent) and the US (38.8 percent).

A Hong Kong Special Administrative Region government spokesman said that merchandise exports continued to perform strongly in early 2026.

Taking the first two months of 2026 together to remove the effect of the different timing of the Chinese New Year compared with last year, the value of merchandise exports surged by 29.6 percent over a year earlier, he said.

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Looking ahead, global demand for AI-related electronic products should remain vibrant, supporting Hong Kong's merchandise trade performance, he added.

However, the spokesman also said that uncertainty surrounding the global economic outlook has increased markedly amid heightened geopolitical tensions in the Middle East.

Shifts in trade policies among major advanced economies have also posed another source of lingering uncertainty, he said, adding that the SAR government will continue to monitor the developments closely and remain vigilant.