Hong Kong’s exports rose nearly 36 per cent year on year in March – the sharpest rate in more than five years – backed by what authorities described as “strong global demand” for AI-related electronic products and outpacing last month’s growth despite global trade disruptions.

According to the Census and Statistics Department, the total value of exports of goods rose by 35.8 per cent to HK$618.4 billion (US$78.9 billion) in March compared with the same month in 2025. Meanwhile, imports rose 41.2 per cent to HK$707.5 billion over the same period, resulting in a trade deficit of HK$89.1 billion in March.

The export performance was the best since January 2021, when it jumped 44 per cent year on year.

Despite the positive numbers, a government spokesman warned of headwinds arising from ongoing geopolitical conflicts.

“Looking ahead, the heightened geopolitical tensions in the Middle East have led to an upsurge in international energy prices, posing a downside risk to the near-term global economic outlook, with potential disruptions to global trade flows and supply chains,” he said.

“Nonetheless, global demand for AI-related electronic products remains robust and should provide staunch support to the performance of Hong Kong’s merchandise exports.”

In the first three months of this year, exports and imports jumped 32 per cent and 37 per cent, respectively, from the same period last year, resulting in a HK$168.4 billion trade deficit.