The value of Hong Kong’s total exports of goods increased by 14.3 percent over a year earlier to HK$446.3 billion ($57.2 billion) in July, after a rise of 11.9 percent in the previous month, according to official data released on Tuesday.

The value of imports of goods also increased by 16.5 percent over a year earlier to HK$480.4 billion in July, after a year-on-year increase by 11.1 percent in June, data from the city’s Census and Statistics Department showed.

A visible trade deficit of HK$34.1 billion, equivalent to 7.1 percent of the value of imports of goods, was recorded in July 2025, according to the department’s data.

For the first seven months of 2025 as a whole, the value of total exports of goods increased by 12.7 percent year-on-year, while that of imports of goods rose by 13.2 percent, the department said, adding that a visible trade deficit of HK$218.6 billion, equivalent to 7.0 percent of the value of imports of goods, was recorded for the same period.

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In July, the total exports to Asia as a whole grew by 19.3 percent year-on-year.

Increases were registered in the values of total exports to most major destinations, in particular Taiwan region (+91.9 percent), Malaysia (+80.7 percent), Singapore (+42.5 percent), Vietnam (+42.1 percent), the Philippines (+16.5 percent) and the Chinese mainland (+16.1 percent).

Decreases were recorded in the values of total exports to some major destinations in other regions, in particular the Netherlands (-42.1 percent) and the United States (-7.6 percent).

A spokesperson for the Hong Kong Special Administrative Region government said steady economic growth in Asia, in particular the mainland, as well as the city's enhanced trade ties with different markets, should continue to provide support to merchandise trade performance.

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“Yet, the United States' elevated tariff rates and lingering uncertainty surrounding its tariff policy may begin to weigh on international trade flows in the near term. The government will continue to monitor the situation closely and stay vigilant,” the spokesperson pointed out.