Hong Kong exports climb 53 per cent in August on AI-related demand

Hong Kong’s export value rose 53 per cent in August to HK$667.9 billion, provisional figures from the Census and Statistics Department showed. The amount was the second-highest on record, behind the peak recorded in July, according to the South China Morning Post. The increase extended the recent strength in the city’s external trade, following a 50.7 per cent rise in exports in July.

The report attributed the August performance to strong demand for products related to artificial intelligence. It did not identify the specific products, markets or companies responsible for the increase. Imports also rose sharply, increasing 60 per cent in August.

The supplied material does not give the value of imports, the resulting trade balance or the countries and regions that accounted for the largest changes. The figures are provisional and were released by the Census and Statistics Department. The report does not say whether the export growth was measured against August of the previous year, although the presentation of the figures describes the increase as an annual comparison.

Hong Kong’s export value in August was equivalent to US$85.6 billion, based on the conversion included in the report. The available material gives no forecast for future trade and no comment from officials, businesses or trade groups about whether demand for AI-related products will continue at the same pace.