In November, the overall value of Hong Kong's exports and imports increased by 18.8% and 18.1% respectively compared to the same period last year.

The latest external merchandise trade statistics released by the Census and Statistics Department of the Hong Kong Special Administrative Region Government today (29th December) show that in November 2025, the value of Hong Kong's overall exports and imports both recorded year-on-year increases of 18.8% and 18.1% respectively. Following a 17.5% year-on-year increase recorded in October 2025, the value of overall merchandise exports in November 2025 was HK$468.9 billion, up by 18.8% compared to the same month in 2024. Meanwhile, following an 18.3% year-on-year increase recorded in October 2025, the value of merchandise imports in November 2025 was HK$517.4 billion, up by 18.1% compared to the same month in 2024. Hong Kong recorded a merchandise trade deficit of HK$48.5 billion in November 2025, equivalent to 9.4% of the value of merchandise imports. For the first 11 months of 2025, the value of overall merchandise exports compared to the same period in 2024 increased by 14.3%. Similarly, the value of merchandise imports increased by 14.1%. Hong Kong recorded a merchandise trade deficit of HK$382.8 billion for the first 11 months of 2025, equivalent to 7.5% of the value of merchandise imports. Seasonally adjusted figures show that the value of overall merchandise exports for the three months ending in November 2025 increased by 1.4% compared to the previous three months. Similarly, the value of merchandise imports increased by 2.8%. Analysis by Country/Region: In November 2025, compared to the same month in 2024, the value of overall exports to Asia increased by 17.1%. Within this region, exports to some major destinations recorded increases, especially to Malaysia (up by 72.0%), Vietnam (up by 54.9%), Taiwan (up by 45.3%), Thailand (up by 39.6%), and Mainland China (up by 16.4%). Beyond Asia, most major destinations also saw increases in the value of exports, especially to the United States (up by 44.4%) and the Netherlands (up by 36.4%). During the same period, imports from most major supply sources recorded increases, especially from Vietnam (up by 102.3%), Mainland China (up by 25.0%), Malaysia (up by 21.1%), the United Kingdom (up by 19.7%), and the United States (up by 17.8%). For the first 11 months of 2025 compared to the same period in 2024, exports to most major destinations recorded increases, especially to Malaysia (up by 55.1%), Vietnam (up by 52.9%), Taiwan (up by 40.5%), Mainland China (up by 15.8%), and Japan (up by 13.7%). During the same period, imports from most major supply sources recorded increases, especially from Vietnam (up by 90.6%), the United Kingdom (up by 43.9%), Malaysia (up by 19.8%), Taiwan (up by 19.0%), and Mainland China (up by 14.4%). On the other hand, imports from South Korea saw a decrease of 15.0%. Analysis by Major Commodity Categories: In November 2025, compared to the same month in 2024, the value of exports in most major commodity categories recorded increases, especially in "Electrical machinery, apparatus and appliances, and parts thereof" (an increase of HK$31.5 billion, up by 15.9%) and "Communications, audio and video equipment and apparatus" (an increase of HK$16.4 billion, up by 36.8%). During the same period, the value of imports in most major commodity categories recorded increases, especially in "Electrical machinery, apparatus and appliances, and parts thereof" (an increase of HK$34.1 billion, up by 16.9%) and "Communications, audio and video equipment and apparatus" (an increase of HK$16.8 billion, up by 34.3%). For the first 11 months of 2025 compared to the same period in 2024, the value of exports in most major commodity categories recorded increases, especially in "Electrical machinery, apparatus and appliances, and parts thereof" (an increase of HK$315.5 billion, up by 15.9%) and "Office machines and automatic data processing machines" (an increase of HK$129 billion, up by 26.6%). During the same period, the value of imports in most major commodity categories recorded increases, especially in "Electrical machinery, apparatus and appliances, and parts thereof" (an increase of HK$334.7 billion, up by 16.8%) and "Office machines and automatic data processing machines" (an increase of HK$112.9 billion, up by 27.7%). Commentary: A spokesperson for the Hong Kong SAR Government stated that the value of merchandise exports continued to perform strongly, with an 18.8% year-on-year increase in November. Exports to most markets further showed robust growth. A breakdown by commodity category shows significant increases in the exports of most major commodities, especially electrical equipment, machinery, and machinery tools. Looking ahead, the ongoing moderate growth in the global economy and robust demand for electronics-related products will support Hong Kong's merchandise trade growth in the short term. The Hong Kong government will continue to strengthen economic and trade ties with different markets while remaining vigilant to various uncertainties in the external environment.