Export and import volumes drop double digits in November 2022

Prices, on the other hand, increased for both exports and imports.

The volume of total exports and imports of goods declined by 26.9% YoY and 24.4% YoY, respectively, in November 2022, data from the Census and Statistics Department (C&SD) showed.

In terms of markets,  the Mainland (-32.5%), the USA (-32.0%), Vietnam (-24.1%) and Taiwan (-19.3%) recorded declines in export volume.

Exports to India, on the other hand, increased by 7.2%.

Import volume from Hong Kong's main suppliers, namely, the Mainland (-34.2%), Singapore (-31.6%), Japan (-20.3%), Taiwan (-14.2%) and Korea (-9.6%) also decreased in November 2022.

Whilst volumes dropped in November, the prices of total exports of goods and imports of goods increased by 4.2% and 5.5%, respectively.

Export prices rose 8.0% in the USA, 4.1% in Taiwan, and 3.7% in the Mainland. 2.4% in Vietnam, and 1.7% in India. 

Import prices from the Mainland (9.5%), Singapore (2.2%), Taiwan (1.4%) and Japan (1.1%) likewise increased.