Export volume rises 28.8% in March

Imports grew faster at 34.6%, whilst both export and import prices also increased.

The total export volume rose 28.8% YoY in March 2026, whilst import volume increased 34.6%, according to the Census and Statistics Department.

For the first quarter of 2026, total export volume grew 26.5% from a year earlier, whilst import volume rose 31.3%.

On a seasonally adjusted quarter-on-quarter basis, export volume increased 16.0% in the first quarter compared with the fourth quarter of 2025. Import volume rose 17.5% over the same period.

The department said changes in trade volume are derived from changes in external merchandise trade value, with the effect of price changes discounted.

Prices also increased during the month. Export prices rose 5.4% YoY in March, whilst import prices grew 5.3%.

For the first quarter, both export and import prices increased 4.3% from the same period last year.

Hong Kong’s terms of trade index edged up 0.1% YoY in March, but was virtually unchanged for the first quarter as a whole.

Among major export destinations, exports to the US recorded the sharpest volume increase in March, rising 69.6% YoY. Taiwan followed this at 41.8%, Mainland China at 32.0%, and Vietnam at 24.3%.

Export volume to India declined 1.2%, making it the only listed major destination to record a decrease.

Export prices rose across all major destinations. Prices for exports to Mainland China increased 6.0%, followed by the US at 5.8%, Taiwan at 4.7%, Vietnam at 4.2%, and India at 3.8%.

On the import side, volume from Korea surged 90.7% YoY in March. Imports from Vietnam rose 76.0%, whilst those from Singapore and Mainland China increased 52.4% and 42.3%, respectively.

Import volume from Taiwan fell 19.6%, the only decline amongst the listed major suppliers.

Import prices also increased across all major suppliers, led by Korea at 11.3%. Prices from Taiwan rose 5.4%, whilst Mainland China and Vietnam both increased 5.2%. Import prices from Singapore grew 5.1%.