External trade rises 18.4% in November despite container slump

Vietnam trade cools whilst other regional partners gain momentum.

Hong Kong’s external trade grew by 18.4% year-on-year (YoY) in November, according to a JLL market report.

Imports and exports increased by 18.1% YoY and 18.8% YoY, respectively, during the period.

Air freight cargo also increased by 6.1%, whilst container throughput decreased by 12%.

Total trade value with Vietnam slowed significantly from 122.9% in October to 78.1% in November. Trade with other countries accelerated, with Mainland China rising from 13.5% to 20.2%, India from 30.7% to 36.9%, the US from 19.0% to 33.0%, and Thailand from 9.2% to 23.0%.

Key developments include a 35,714 sq ft lease by Thea W Ltd in Cable TV Tower in Tsuen Wan within the period, ending in October 2027.

Judd Property Investments Ltd also acquired several units in Yally Industrial Building in Wong Chuk Hang for $65m, equivalent to $6,222 per sq ft.

Separately, Kerry Hungkai Warehouse received demolition consent for residential redevelopment, with a land premium of $797.0m paid in September, equivalent to $1,729 per sq ft gross floor area.