In September, Hong Kong's overall export volume and import volume increased by 1.2% and decreased by 1.2% year-on-year, respectively.

date
12/11/2024
avatar
GMT Eight
On November 12, the Hong Kong government's Census and Statistics Department released the statistics on foreign trade volume and prices for September. Comparing September 2024 with September 2023, Hong Kong's overall export volume increased by 1.2%, while import volume decreased by 1.2%. When comparing the first nine months of 2024 with the same period in 2023, Hong Kong's overall export and import volumes rose by 6.4% and 3.5% respectively. Seasonally adjusted figures show that in the third quarter of 2024 compared to the previous quarter, overall export volume decreased by 3.1%, while import volume increased by 2.3%. When comparing September 2024 with September 2023, the overall export and import prices increased by 3.1% and 2.4% respectively. When comparing the first nine months of 2024 with the same period in 2023, overall export and import prices rose by 3.9% and 3.4% respectively. The trade price ratio index is calculated based on the ratio of the overall export price index and the import price index. Compared to the same period in 2023, this index increased by 0.7% in September 2024, and by 0.5% in the first nine months of 2024. When comparing September 2024 with September 2023, there was an increase in overall export volume to Vietnam (29.6%) and Mainland China (7.9%). On the other hand, there were decreases in overall export volume to the United States (-7.1%), Chinese Taipei (-20.6%), and India (-22.8%). At the same time, the overall export prices to the United States (5.4%), Mainland China (3.9%), Vietnam (2.7%), and Chinese Taipei (2.7%) increased. On the other hand, the overall export price to India decreased by 2.1%. When comparing September 2024 with September 2023, there were decreases in import volume from Singapore (-5.2%) and Mainland China (-1.1%). On the other hand, there were increases in import volume from South Korea (8.3%), Japan (8.6%), and Chinese Taipei (12.6%). At the same time, import prices from all major supplying countries increased: South Korea (5.3%), Singapore (3.8%), Mainland China (2.3%), Chinese Taipei (2.0%), and Japan (1.1%).

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