Hong Kong exports in January jump 33.8pc, beat estimates

Overall exports and imports in Hong Kong both posted a better-than-expected growth in January, with exports rising 33.8 percent year-on-year, data from the Census and Statistics Department showed on Friday.

Total exports in January increased to HK$520.6 billion, following a 26.1 percent increase in December and surpassing market expectations of 23.8 percent. It marked the 23rd consecutive growth month.

Imports rose 38.1 percent to HK$534.7 billion in January, up from 30.6 percent a month ago and the market estimate of 24.9 percent.

The city recorded a visible trade deficit of HK$14.1 billion, equivalent to 2.6 percent of merchandise imports.

Exports to the mainland and most other Asian markets continued to post solid growth, with exports to Malaysia increasing 81.1 percent, Vietnam by 31 percent, Singapore by 32.4 percent, Taiwan by 88.8 percent, Thailand by 31.1 percent, and mainland China by 40.6 percent.

In addition, exports to Switzerland, the Netherlands, and the US showed strong growth, increasing 1.05 times, 39.5 percent, and 23.3 percent, respectively.

Looking ahead, Hong Kong's merchandise trade performance will be underpinned by the sustained moderate expansion of the global economy and strong global demand for artificial intelligence-related electronic products, the government noted.