Value of Hong Kong's exports, imports to mainland down in Q1

Total exports to the mainland is 31.1% lower in value compared with Q1 2022.

The value of Hong Kong’s exports and imports related to Mainland China decreased in Q1, according to the latest figures released by the Census and Statistics Department (C&SD).

A total of $86.5b of Hong Kong’s total exports to the mainland were for outward processing, a decrease of 31.1% compared to Q1 2022. Exports to the mainland for outward processing refer to raw materials or semi-manufactures exported from or through Hong Kong to the mainland for processing, with a contractual arrangement for subsequent re-importation into Hong Kong.

The value of imports from the mainland also fell by 14.1% to $132.6b during the same period. Imports from the mainland related to outward processing refer to processed goods imported from the mainland, of which all or part of the raw materials or semi-manufactures will be exported from or through Hong Kong to the mainland for processing.

The value of re-exports also fell to $160.1b, a 17.4% decline compared to the same quarter in 2022. Re-exports of mainland origin are processed goods re-exported through Hong Kong with a contractual arrangement for subsequent re-importation of the processed goods into the city.