HK exports up 0.3% in October

Imports of goods also increased by 1.5% over the same period.

The volume of Hong Kong's total exports of goods inched up by 0.3% in October compared to the same month last year, according to the Census and Statistics Department (C&SD) data.

Imports of goods also increased by 1.5% over the same period.

For the first ten months of 2024, exports grew by 5.8%, and imports increased by 3.3%.

However, on a seasonally adjusted basis, exports dropped by 4.5%, and imports decreased by 0.5% for the three-month period ending October 2024, compared to the previous three months.

In terms of prices, Hong Kong saw increases in both exports and imports in October 2024. Export prices rose by 3.4%, and import prices went up by 3.0% compared to October 2023. For the first ten months of 2024, the price of exports climbed by 3.8%, while import prices increased by 3.3%.

The terms of trade index, reflecting the ratio of export to import prices, increased by 0.4% in October 2024 and 0.5% in the first ten months of the year.

Exports to Vietnam (up 29.9%), Mainland China (up 4.4%), and the USA (up 1.0%) showed significant growth. Conversely, exports to Taiwan and India declined by 3.4% and 34.0%, respectively. On the price front, exports to the USA (up 4.4%), Mainland China (up 4.3%), Taiwan (up 3.6%), and Vietnam (up 1.7%) all saw price increases, while the price of exports to India dropped by 1.0%.

Regarding imports, volumes from Taiwan (up 11.4%), Singapore (up 10.5%), Japan (up 6.3%), and Mainland China (up 0.7%) showed growth, while imports from Korea fell by 13.1%. Import prices also rose across the board, with Korea experiencing the largest increase (6.8%), followed by Singapore (5.9%), Taiwan (5.1%), Mainland China (2.1%), and Japan (1.0%).