The value of total exports of goods increased by 8.7 percent year-on-year in 2024 in the SAR. Concurrently, the value of imports of goods increased by 6 percent, halting two straight years’ drop and logged a visible trade deficit of HK$379.7 billion.
The value of Hong Kong's total exports rose by 5.2 percent in December 2024, beating expectations, according to the Census and Statistics Department.
The value of total exports climbed to HK$406.7 billion while the value of imports decreased to HK$441.2 billion in December, representing a visible trade deficit of HK$34.5 billion.
In Asia, exports increased to Vietnam, the Philippines and the mainland, with exports to Vietnam surging by 49 percent year-on-year. On the other hand, decreases were recorded in the values of total exports to India, which dropped by more than 33 percent, and Thailand, falling by around 16 percent.
Apart from Asia, decreases were also registered in the values of total exports to other major destinations, in particular the United Kingdom, down by 28 percent, the Netherlands and the United States, which fell around 15 percent.
A government spokesman said the value of merchandise exports continued to grow in December 2024 over a year earlier. Exports to the mainland and Europe increased while those to the United States further declined. Meanwhile, those to other major Asian markets showed mixed performance.
Looking ahead, uncertainties in the external environment, in particular trade conflicts, may weigh on Hong Kong’s export performance, a government spokesman said. The various measures introduced by the central government to boost the mainland economy should provide support, he added.
JUNE CHEN
