Hong Kong Oct exports, imports beat forecasts as trade uncertainties recede

Hong Kong’s exports and imports both beat expectations in October, as receding external policy uncertainties support the city’s trade, government data shows.

Total exports rose 17.5 percent year-on-year to HK$461.8 billion, up from September’s 16.1 percent gain, while imports increased 18.3 percent to HK$501.7 billion, up from 13.6 percent in the previous month, according to the Census and Statistics Department.

For the first 10 months of 2025, exports rose 13.8 percent and imports increased 13.6 percent, with a cumulative trade deficit of HK$334 billion, or 7.3 percent of imports.

By destination, October exports to Asia rose 15.6 percent, including Malaysia 139.4 percent, Vietnam 56 percent, Taiwan 50.2 percent, India 31.8 percent, and Chinese mainland 9.8 percent. Exports to the Netherlands jumped 56.8 percent and the United States 40.5 percent.

Major commodities showing growth included electrical machinery, apparatus and appliances, up 16.1 percent, and telecommunications and sound recording and reproducing apparatus and equipment, up 35.7 percent.

Imports in October also grew from most major suppliers, including Vietnam by 189.1 percent, the United Kingdom by 55.7 percent, Malaysia 25.1 percent, Singapore by 20.8 percent, the mainland by 18.4 percent. But imports from the US fell 10.4 percent.

A government spokesman expects the city's merchandise trade to grow in the near term due to a moderate global economic expansion and receding uncertainties in recent external trade policies, alongside sustained demand for electronics-related products.

"Nevertheless, the lingering effects of trade barriers still warrant attention. The SAR Government will stay vigilant," the spokesman said.