Hong Kong: Total merchandise exports in March amounted to HK$455.5 billion, an increase of 18.5% year-on-year.

According to the statistics released by the Hong Kong government's Census and Statistics Department today (April 28th), the external merchandise trade figures for March 2025 showed that both the value of Hong Kong's overall exports and imports recorded year-on-year increases, rising by 18.5% and 16.6% respectively. Following a 15.4% year-on-year increase in February 2025, the overall export value of goods in March 2025 was HK$455.5 billion, up 18.5% from the same month in 2024. Similarly, following an 11.8% year-on-year increase in February 2025, the import value of goods in March 2025 was HK$500.9 billion, up 16.6% from the same month in 2024. The visible trade deficit in March 2025 was HK$45.4 billion, equivalent to 9.1% of the value of goods imported. The overall export value of goods in the first quarter of 2025 rose by 10.9% compared to the same period in 2024. At the same time, the import value of goods increased by 9.8%. The visible trade deficit in the first quarter of 2025 was HK$80.7 billion, equivalent to 6.4% of the value of goods imported. Seasonally adjusted figures show that compared to the previous quarter, the overall export value of goods in the first quarter of 2025 increased by 12.7%. Meanwhile, the import value of goods rose by 9.9%. A government spokesman stated that the year-on-year surge in merchandise export value in March was 18.5%. Exports to mainland China saw strong growth, while exports to other major Asian markets varied. Exports to the United States significantly increased, while exports to the European Union saw a slight increase. The spokesman mentioned that looking ahead, the recent sharp increase in global trade frictions due to the US imposing additional import tariffs in early April will pose a challenge to Hong Kong's merchandise trade performance. However, with the stable economic growth in mainland China and Hong Kong actively strengthening economic and trade ties with different markets, this should help support trade performance. The government has been providing support to businesses from various perspectives to address external challenges and will continue to closely monitor the situation.