In January, the overall exports and imports of Hong Kong increased by 0.1% and 0.5% respectively compared to the same period last year.

On February 25, the Census and Statistics Department of the Hong Kong Special Administrative Region Government released external merchandise trade statistics for January 2025, showing that both the overall export and import values of Hong Kong recorded year-on-year increases of 0.1% and 0.5% respectively. Following a year-on-year increase of 5.2% in December 2024, the overall export value of goods in January 2025 was HK$389.1 billion, a 0.1% increase from the same month in 2024. Meanwhile, following a year-on-year decline of 1.1% in December 2024, the overall import value of goods in January 2025 was HK$387.1 billion, a 0.5% increase from the same month in 2024. In January 2025, a visible trade surplus of HK$2.1 billion was recorded, equivalent to 0.5% of the value of goods imported. Seasonally adjusted figures show that, comparing the three months ending January 2025 with the previous three months, the overall export value of goods increased by 3.1%. Meanwhile, the import value of goods increased by 0.9%. Comparing January 2025 with the same month in 2024, the overall export value of goods to Asia increased by 0.4%. Within this region, the overall export values to some major destinations recorded increases, especially Vietnam (up 73.9%), Singapore (up 41.6%), Japan (up 14.3%), and the Philippines (up 13.7%). On the other hand, the overall export values to India (down 22.3%), Malaysia (down 17.7%), and mainland China (down 2.1%) recorded declines. Apart from destinations in Asia, the overall export values to some major destinations in other regions recorded declines, especially the Netherlands (down 31.8%) and the UK (down 8.8%). On the other hand, the overall export value to the US recorded an increase of 14.8%. During the same period, the import values from some major supplying countries recorded increases, especially from France (up 141.9%), Malaysia (up 52.7%), Vietnam (up 48.4%), the UK (up 42.6%), and Taiwan (up 38.0%). On the other hand, the import values from South Korea (down 18.8%), the US (down 16.2%), and mainland China (down 8.9%) recorded declines. Comparing the three months ending January 2025 with the same period in 2024, the overall export value of goods to some major destinations recorded increases, especially Vietnam (up 55.5%), Singapore (up 37.8%), and mainland China (up 5.5%). On the other hand, the overall export value of goods to the United Arab Emirates (down 33.9%) and India (down 28.2%) recorded declines. During the same period, the import values from some major supplying countries recorded increases, especially from Malaysia (up 37.8%), Taiwan (up 25.5%), the UK (up 21.0%), and France (up 20.7%). On the other hand, the import values from Vietnam (down 5.0%) and mainland China (down 3.9%) recorded declines. Comparing January 2025 with the same month in 2024, the overall export value of certain major categories of goods recorded increases, especially in "office machines and automatic data processing equipment" (an increase of HK$15 billion, up 40.6%). On the other hand, the overall export values of "electric machinery, equipment and appliances, and parts" (decreased by HK$4.1 billion, down 2.2%) and "communications, recording equipment and apparatus" (decreased by HK$4.1 billion, down 8.1%) recorded declines. During the same period, the import value of certain major categories of goods recorded increases, especially in "office machines and automatic data processing equipment" (an increase of HK$13.9 billion, up 52.7%). On the other hand, the import value of "communications, recording equipment and apparatus" (decreased by HK$8.2 billion, down 16.0%) recorded declines. Comparing the three months ending January 2025 with the same period in 2024, the overall export value of certain major categories of goods recorded increases, especially in "office machines and automatic data processing equipment" (an increase of HK$45 billion, up 40.2%). On the other hand, the overall export value of "communications, recording equipment and apparatus" (decreased by HK$13.9 billion, down 9.3%) recorded declines. During the same period, the import value of certain major categories of goods recorded increases, especially in "electric machinery, equipment and appliances, and parts" (an increase of HK$41.9 billion, up 7.8%). On the other hand, the import value of "communications, recording equipment and apparatus" (decreased by HK$16.6 billion, down 10.5%) recorded declines. A spokesman for the Hong Kong government stated that the year-on-year growth in the value of exports slowed down in January 2025, partially due to the difference in timing of the Lunar New Year. Exports to the US significantly increased, while exports to various Asian markets saw varying degrees of growth. Meanwhile, exports to mainland China and the EU declined. However, to assess the actual situation more effectively, it is necessary to wait for the data for February and analyze both months together. Looking ahead, despite uncertainty in the external environment, particularly with the rise of trade protectionism, which will continue to affect Hong Kong's export performance, stable global economic growth, combined with various measures to boost the mainland China economy, will provide support.