HK's exports surged 50.7% yoy in July

The city's total exports of goods jumped 50.7% year-on-year in July -- following a 53.4% surge the month before in June.

The government's spokesperson says the "impressive growth" was buoyed by exports of AI-related electronic products.

Data from the Census and Statistics Department shows the value of exports surged to 672.5 billion dollars in July.

Total imports, meanwhile, rose 41% to 677.4 billion dollars in July.

A trade deficit of 4.9 billion dollars -- equivalent to 0.7% of import value -- was recorded.

Still, the government says downside risks remain with geopolitical tensions in the Middle East, trade protectionism among advanced economies and risks linked to the rapid expansion of global investment in AI.