Exports up 15.4% to $327.9b in February on Asia growth

Total exports to Vietnam more than doubled during the month.

Hong Kong’s total exports of goods rose 15.4% year-on-year (YoY) to HK$327.9b in February 2025, according to data from the Census & Statistics Department (C&SD).

Imports of goods also logged an 11.8% YoY rise during the month.

Taking the first two months of 2025 together, total exports of goods have risen by 6.5% compared to the same period in 2024.

The value of the imports of goods has also risen by 5.7% YoY during the two-month period.

Hong Kong recorded a trade deficit of HK$34.6b or 4.6% of the value of imports of goods during the first two months of 2025.

Destination-wise, total exports to Asia grew 25%, with Vietnam (+114.2%), Taiwan (+73%), the Philippines (+32.3%) and mainland China (+29.5%) recording the largest increases in February.

Outside of Asia, total export values decreased in the Netherlands (-44.7%) and the USA (-18.5%), whilst total export values to the United Kingdom (+61%) rose over the same month.

The total value of imports rose to Vietnam (+89.9%), Taiwan (+29.2%), Singapore (+18.3%) and mainland China (+10.9%).

In contrast, total import values were lower to the UAE (-38.2%) and India (-25.6%).

Looking ahead, Hong Kong sees the tariff measures introduced so far by the United States and the uncertainties surrounding protectionist policies as factors that will continue to pose challenges to its merchandise trade performance, a government spokesperson said.

Nevertheless, the sustained growth in the global economy, in particular the Mainland economy, should render support to Hong Kong's exports, the spokesperson added.