The value of Hong Kong’s total exports of goods recorded double-digit growth for the fourth consecutive month in July, official data showed on Tuesday.

The value of the territory’s exports increased to HK$390.4 billion ($50.05 billion) last month, up 13.1 percent year-on-year after rising 10.7 percent in June, according to data from the Census and Statistics Department. It had grown by 14.8 percent in May and 11.9 percent in April.

The value of imports of goods in July also increased 9.9 percent year-on-year to HK$412.3 billion, the department added.

A trade deficit of HK$21.8 billion, or 5.3 percent of the value of imports, was recorded last month.

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For the first seven months of 2024 as a whole, the value of total exports of goods increased by 12.4 percent over the same period in 2023. Concurrently, the value of imports of goods increased by 8.0 percent.

Comparing the three-month period ending July with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 1.0 percent. Meanwhile, the value of imports of goods increased by 0.2 percent.

A Hong Kong Special Administrative Region government spokesman said that exports to the Chinese mainland, the United States and the European Union continued to expand visibly while those to other major Asian markets showed mixed performance.

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Looking ahead, Hong Kong's exports should sustain a positive performance if external demand holds up, though geopolitical tensions and trade conflicts will present risks, the spokesman added.